Global Macro Perspectives
Asia closed negative today, Europe is trading also negative -0.5% on average. After I started began to doubt my calls on TARP repayments as a potential correction catalyst the Citigroup equity offering has turn out to be full blown fiasco. The offering was priced yesterday at $3.15 per share, a 20+ percent lower the share […]
Well, with Wells Fargo moving to repay TARP funds that chapter in the economic history will be closed. Citigroup succeeded in repaying yesterday. I expected that move to repay TARP funds and serial stock offerings would bring some strain to the bank share prices (and even broad market), but nothing jet on that front. Yes, […]
U.S. GDP growth has got revised to 2.8% from previous estimate of 3.5%. Although the previous number (conspicuously high) helped to propel the market to new highs, revision doesn’t seem to raise any worries as U.S. equity futures are pointing on a higher opening. S&P/Case-Shiller Composite 10 edged higher 0.4% in September while &P/Case-Shiller Composite […]
Belisarius is overwhelmed with the work in his new company + he has traveled to Vienna yesterday, so he’s a little bit sidelined concerning the market action. I will post only a few interesting articles in last couple days. Trichet Says ECB Will Withdraw Liquidity Gradually, Bloomberg Fed Makes Monitoring Bank Capital Foremost Concern, Bloomberg […]
As reported yesterday, Japan’s machinery orders rose 10.5% vs. 4.1% consensus in September. Bloomberg story: Japan Machine Orders Rise More Than Expected; Recovery May Last. Off course it sparked optimism for the bulls. Today Japan’s October producer prices came out at -6.7% vs. 6% consensus. This was 10th month in a row with negative figure. […]