Global Macro Perspectives
The official China PMI fell from 53.9 to 52.1; The HSBC/Markit PMI fell from 52.7 to 50.4. From the China National Bureau of Statistics press release: Economic growth is moderating, a rebound in exports is weakening, and slower domestic demand is leading to a build-upof finished-goods inventories. Industrial production is entering a “light season” and […]
From the press release. April’s PMI points to a moderate slowdown in the expansion of manufacturing activity. We see this as good news because it means that Beijing’s policy tightening is starting to cool the overheated economy, which will help to contain inflationary risk in the coming quarters. Chart 1. China Federation of Logistics & […]
Words from the man himself: China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst. Bloomberg story: China May ‘Crash’ in Next 9 to 12 Months, Faber Says. Well, like most of his calls, this could also be on […]
The official China PMI rose from 52 to 55.2; The HSBC/Markit PMI rose from 55.8 to 57. Chart 1. China Federation of Logistics & Purchasing and National Bureau of Statistics PMI / HSBC Markit China Manufacturing PMI
Looks like both are topping out, the official in an ugly way. We will see whether the official one will again lead the unofficial one. Chart 1. China Federation of Logistics & Purchasing and National Bureau of Statistics PMI / HSBC China Manufacturing PMI
The index was reported at 57.4, up from 56.1 in the previous month. Hongbin Qu, Chief Economist for China at HSBC said: Industrial activity continues to accelerate, implying stronger GDP growth in 1Q. But rising input and output prices also point to greater inflationary pressure, which will likely prompt more tightening measures in the coming […]
It has been nice away from the computers, markets and problems last week spent at the sea. I’ve visited 5 countries, 7 towns and I was most impressed by Spain and Barcelona.
I was pretty pissed when a saw my SPY put options position being sold on the Monday market opening on the back of a stop loss order I left when I was leaving for vacation. I hate leaving my positions unattended but hate even more earning + 15% instead of +50%. Never mind, it looks at the moment I could have an opportunity to enter into same position at the approximately same costs.