Archive for October, 2016
Friday, October 14th, 2016
Via Federal Reserve Atlanta:
Latest forecast: 1.9 percent — October 14, 2016
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2016 is 1.9 percent on October 14, down from 2.1 percent on October 7. The forecast of third-quarter real personal consumption expenditures growth ...
Posted in Uncategorized | 2 Comments »
Friday, October 14th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
The PPI was firmer than I had expected in September, rising by 0.3% total and 0.2% core (in both cases, one tenth above consensus and two tenths above my estimates). As you know, there are few categories where the PPI numbers correlate well with ...
Posted in Uncategorized | Comments Off on PPI and CPI
Friday, October 14th, 2016
Via TDSecurities:
US: Core Retail Sales Miss Masks Positive Details
· September retail sales rose 0.6%, in line with consensus expectations, while the August drop was revised up to -0.2% (previously reported -0.3%). Excluding autos and gas, retail sales rose a solid 0.3%, also in line with expectation, while the control group ...
Posted in Uncategorized | Comments Off on Retail Sales Review
Friday, October 14th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Ahead of the US retail sales report, the main economic news has been Chinese prices, where the surprise was on the upside
From the Fed, Yellen and Rosengren speak at a Boston Fed Conference
Singapore reported advance Q3 GDP growth at 0.6% y/y; ...
Posted in Uncategorized | Comments Off on FX
Friday, October 14th, 2016
Via WSJ:
By Rachel Louise Ensign
Updated Oct. 13, 2016 3:52 p.m. ET
Business lending abruptly downshifted in the third quarter, a puzzling move that may weigh on upcoming bank earnings.
For some time, business loans, also known as commercial and industrial loans, have been one bright spot for otherwise growth-starved banks, both large ...
Posted in Uncategorized | Comments Off on Bank Lending to Business Stalls in Q3
Friday, October 14th, 2016
Via Bloomberg:
PPI rose 0.1% from year earlier, first gain since January 2012
CPI accelerates in sign domestic demand is holding firm
China’s factory-gate prices rose for the first time since 2012, relieving a source of global disinflationary pressure and indicating further stabilization in the world’s second-largest economy.
Key Points
Producer-price index ...
Posted in Uncategorized | Comments Off on Welcome Whiff of Inflation in China
Friday, October 14th, 2016
Via Kit Juckes at SocGen:
The world still in a spin, as the man wo sounded as though he had a permanently sore throats all those years ago. Sterling, of course, isn't so much in a spin as in a dive. Tombstoning, FX style. A switch from a necessary and ultimately ...
Posted in Uncategorized | Comments Off on Some FX
Friday, October 14th, 2016
Via Bob Elson at Bloomberg:
IG CREDIT PIPELINE: EDC to Price Global 5Y
2016-10-14 09:24:53.860 GMT
By Robert Elson
(Bloomberg) -- Expected to price today:
* Export Development Canada (EDC) Aaa/AAA, to price $1b Global
5Y, via managers Barc/CA/HSBC/TD; guidance MS +21 area
LATEST UPDATES:
* Korea Hydro & Nuclear Power (KOHNPW) Aa2/AA, mandates BNP/C
for investor meetings Oct. ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, October 13th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
Initial jobless claims continued to surprise to the downside, plumbing depths not seen in a very long time. Initial claims were unchanged in the week ended October 8 at a downwardly-revised level of 246,000, the lowest reading since 1973. The four-week average broke below ...
Posted in Uncategorized | Comments Off on Claims Data
Thursday, October 13th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Edges Higher Even as US Rates Soften
The dollar's gains against nearly all the major and emerging market currencies are being attributed to the FOMC minutes
The main news today has been China's trade balance
The US reports import prices and initial ...
Posted in Uncategorized | Comments Off on FX