Global Macro Perspectives
(For September 2010) Chicago Purchasing Managers Index was reported at 60.4. The consensus was at 55.5, prior reading at 56.7. First manufacturing survey above consensus and pointing to expansion. Richmond FED Manufacturing, Dallas Fed Manufacturing, Empire State Manufacturing and Philadelphia FED General Business Conditions Index all point to lower ISM manufacturing while Chicago pints to higher ISM […]
U.S. GDP Q2 growth was revised from 1.6% to 1.7%. The consensus was at 1.6%, Q1 reading was at 2.7%. Chart 1. U.S. Real GDP & Percent Change
FT Alpaville was first to report this: An anonymous tip-off regarding Spanish GDP… The big question then, according to the author(s), is the ‘real’ level of Spain’s GDP. Using a deviation of 24 per cent in market services, 5 per cent in manufacturing and 6 per cent in construction, the author comes up with a […]
(For The Week Ending September 24, 2010) Belisarius had a real bad time compiling this report today, as he is struggling to find purpose in hard work on this piece of analysis and apparent zero usefulness in trading. In short refinery utilization collapsed so we had a small gasoline draw, and the price of crude oil skyrocketed on that… Chart 1. […]
(For The Week Ending September 25, 2010) Initial jobless claims in the U.S. were reported at 453.000. The consensus was at 460.000, last week revised (up 9.000) reading was at 469.000. Chart 1. U.S. Initial Jobless Claims
Moody’s lowered Spain to Aa1 from Aaa with a stable outlook. This was widely expected, Spain bond spreads narrowed. Bloomberg story: Spain’s Credit Rating Cut One Level to Aa1 by Moody’s. Ireland bank rescue price tag was estimated at USD 68 billion or 32% of Ireland’s GDP. Bloomberg story: Ireland Faces $68 Billion Bank Rescue to Prop Up Allied, Anglo. […]