Global Macro Perspectives
U.S. personal income rose 0.4% MoM in May vs. 0.5% consensus and revised 0.5% April reading. On YoY level the personal income is up 1.6%. U.S. consumer spending remained rose 0.2% in May vs. 0.1% consensus and 0.o% prior reading. On YoY level the consumer spending is up 4.3%. Chart 1. Personal Income Chart 2. Consumer […]
Bloomberg story: Baosteel Scales Back Expansion Target by 38% as China Seeks Capacity Curbs. China, the biggest steelmaking nation, has pulled back from encouraging mills to get as large as global leader ArcelorMittal as it sought to shutter old plants, curb pollution and power demand. Chinese steelmakers are likely to cut output in the third […]
I have to ask why? This cannot end well. Finacial TImes story: Greece set to return to finance markets. Greece is preparing a make-or-break return to the financial markets next month as it plans to raise about €4bn in its first borrowing attempt since last month’s bail-out by the European Union and International Monetary Fund. […]
Important U.S. earnings this week: Monday: Micron Technology (MU), Standard Microsystems (SMSC), Zep (ZEP), Barnes & Noble (BKS) Tuesday: Worthington Industries (WOR), General Mills (GIS), Acuity Brands (AYI) Wednesday: American Greetings (AM), Lindsay Corporation (LNN), Christopher & Banks (CBK), Apollo Group (APOL), UniFirst (UNF), Monsanto (MON) Thursday: Methode Electronics (MEI), MSCI (MXB), MSC Industrial Direct (MSM), […]