Archive for May, 2016
Wednesday, May 4th, 2016
Via Bloomberg:
May 4, 2016 — 4:00 AM EDT
European Central Bank policy is helping to sustain growth in the euro area economy, though the pace is “tepid” and inflation remains too low, according to Markit Economics.
Markit said its composite Purchasing Managers Index was at 53 in April -- above the 50 ...
Posted in Uncategorized | Comments Off on European Growth
Wednesday, May 4th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h106db23c,16d9c5cc,16d9c5cd&p1=136122&p2=1444a54d74dc1095c72ca75c0a3cc9c3>
The dollar's slide was interrupted yesterday as angst about the global economy overtook relative real yield trends as the dominant driver. Oil was down, the dollar bounced and high-beta and commodity-sensitive currencies corrected. Current FX trends are overwhelmingly the result of positions being taken off, rather ...
Posted in Uncategorized | Comments Off on Early FX
Tuesday, May 3rd, 2016
Via WSJ:
By
Lingling Wei
May 3, 2016 12:18 p.m. ET
118 COMMENTS
BEIJING—Chinese authorities are training their sights on a new set of targets: economists, analysts and business reporters with gloomy views on China’s economy.
Securities regulators, media censors and other government officials have issued verbal warnings to commentators whose public ...
Posted in Uncategorized | Comments Off on Freedom of Speech : The China Version
Tuesday, May 3rd, 2016
Via Bloomberg and click link for graphs which accompany article and which dont translate well to my low rent retired guy blog:
Defaults seen spreading as borrowers struggle to refinance
April issuance sank 43% as 143 billion yuan of sales canceled
Chinese debt investors are turning bearish at just the wrong ...
Posted in Uncategorized | Comments Off on Wall of Debt in China
Tuesday, May 3rd, 2016
Via Bloomberg:
CORRECT: Net Shorts Jump in JPMorgan Treasury Client Survey
2016-04-26 12:41:11.665 GMT
By Stephen Spratt
(Bloomberg) -- (Corrects first paragraph to show long
positions, not net longs, fell.)
Among all clients in week ended April 25, net short
positions rose to most since March 14; among active clients,
longs fall to 20 from 30, bringing net ...
Posted in Uncategorized | Comments Off on JPMorgan Duration Survey
Tuesday, May 3rd, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Continues to Push Lower
The US dollar's downtrend is extending
The Australian dollar is the main exception, off about 1% following the 25 bp surprise rate cut
UK manufacturing PMI surprised as it fell below the 50 boom/bust level to 49.2
...
Posted in Uncategorized | Comments Off on FX
Tuesday, May 3rd, 2016
Via the FT:
Australia cuts interest rates to record low
RBA cites weaker inflation outlook for cut to 1.75%, Aussie dollar tumbles
12 minutes ago
by: Jamie Smyth in Canberra and Peter Wells in Hong Kong
The Reserve Bank of Australia has cut interest rates to a record low of 1.75 per cent in a ...
Posted in Uncategorized | Comments Off on Surprise Rate Cut
Monday, May 2nd, 2016
Via Bloomberg:
ECB Paper Finds Suspicious Trading in U.S. Economic Indicators
2016-05-02 19:05:58.446 GMT
By Jeanna Smialek
(Bloomberg) -- A European Central Bank-published study
found suspicious trading ahead of seven regular U.S. economic
releases, saying information leaks probably helped traders make
more than $160 million in profits in two markets over six years.
Between January 2008 and March ...
Posted in Uncategorized | Comments Off on Suspicious Trading Patterns
Monday, May 2nd, 2016
Via Politico.com
The last thing Democrats want to contend with just a week before the 2016 presidential election is an outcry over double-digit insurance hikes as millions of Americans begin signing up for Obamacare.
But that looks increasingly likely as health plans socked by Obamacare losses look to regain their financial footing ...
Posted in Uncategorized | Comments Off on ObamaCare and the Election
Monday, May 2nd, 2016
Via Bloomberg:
Euro-Area Manufacturing Growing at `Anemic' Pace, Markit Says
Fergal O’Brien
May 2, 2016 — 4:00 AM EDT
Euro-area manufacturing growth was little changed last month as stronger readings in Germany, Italy and Spain were offset by contraction in France.
Markit Economics in London said its monthly Purchasing Managers Index points to “anemic” factory ...
Posted in Uncategorized | Comments Off on Euro Area Manufacturing PMIs