Top Economic News

 

Wednesday, May 18, 2016:

GDP figures in Japan expanded by 1.7% in the three months ended March 31.
GDP in the 4th quarter for Japan was revised to -1.7% from -1.1%.
Unemployment in the UK fell 2k leaving the rate at a 10-year low of 5.1%.
Annual pay growth in the UK slowed to 2.1% from 2.2%.
On Tuesday, the US said it would impose duties of more than 500% on Chinese cold-rolled flat steel.
China denied there are any inductments in place to encourage steelmakers to sell their products overseas.
China's central government-controlled firms will cut steel production capacity by 10% over  2016-2017 

 

Click here to download a pdf of this article, Missile.pdf
 
 

Tuesday, May 17, 2016:

UK inflation unexpectedly slowed in April.
BlackRock's Fink say China needs to be more aggressive with their reforms and the recent explosion in credit was "the wrong way to reorient the economy".
Orders for Class 8 Trucks (large semi-trucks) slumped to their lowest level in 6 years.
Used Farm equipment prices dropped by a third between the first quarter of 2013 and the last quarter of 2015.

 

Click here to download a pdf of this article, Missile.pdf
 
 

Monday, May 16, 2016:

The physical rebalancing of the oil market has finally started.
China has rejected suggestions the jump in crude steel output was mostly due to zombie enterprises.
China's investment, factory ouput and retail sales all grew more slowly than expected.
Almost 20 percent of Americans 65 and older are working.  The most since the early 1960s.

 

Click here to download a pdf of this article, Missile.pdf
 
 

Wednesday, May 11, 2016:

John Burbank, founder of Passport Capital, expectes a major Chinese devaluation and US Recession. 
Moody's reckons total debt to GDP in China stands at 280%.
Dallas Fed Economist Yung said, benchmark gauges like the S&P are flawed mirrors of the economy and fail as predictors of GDP.
British factory output recorded its biggest annual fall in 3 years.

Click here to download a pdf of this article, Missile.pdf
 
 

Tuesday, May 10, 2016:

The Small Business Optimism Index increase to 93.6 from 92.6.
The IMF said the Monetary Authority of Singapore should remain vigilant to signs of deflation.
The Finance Minister of Japan said that they are ready to intervene to weaken the currency if moves were volatile enough to hurt the country's trade and economy.
Producer Prices in China declined to 3.4% y/y from 3.8%.
Consumer Prices in China rose 2.3% y/y.

Click here to download a pdf of this article, Missile.pdf
 
 

Monday, May 9, 2016:

Chicago Fed President Evans said the Fed's wait and see stance is appropriate.
Chicago Fed President Evans said it is not so bad to overshoot a bit on inflation.
Chicago Fed President said US fundamentals are good.
China's leading Communist Party mouthpiece acknowledged the risks of a build-up of debt.
Iron ore prices are falling back to Earth.
Three of the World's most influential bond invesyors say the Fed is still on course to raise rates this year.

Click here to download a pdf of this article, Missile.pdf
 
 

Friday, May 6, 2016:
Chinese banks' bad loans are at least 9 times bigger than official numbers indicate.
Chinese banks channeling loans via asset managment plans record them as receivables rather than loans, allowing them to dodge capital requirements.
China's asset managers warned of "Ponzi Scheme" risks from pooling investor funds intended for other products.
The Reserve Bank of Australia lowered inflation predictions to a range of 1 to 2% from 1.5 to 2.5%.
Too many investors dislike long duration positions.
Goldman cutting more jobs in securities units, with reductions in fixed income operations to roughly 10% this year.

Click here to download a pdf of this article, Missile.pdf
 
 

Thursday, May 5, 2016:

Minneapolis Fed President Kashkari, "Fed will move when the data allows it."
Q. How consequential is the difference between promising 2% growth & de‚Äčlivering 1%? A. St. Louis Fed Pres Bullard.
Bullard: "The general rule of thumb within the Fed is that labor market data trumps G.D.P. data."  
Libya's already crippled oil production is at risk of further disruption from a stand-off between eastern and western political factions, which prevented a Glencore cargo from loading.
While oil facilities are not in the fire's path, multiple companies have curbed activities to allow workers & others safety.
U.S. production continues to fall- the latest figures showing a decline by over 8% since mid-2015 to 8.825 mm bpd.
China authorities are ordering many investment firms to close their storefronts on busy streets.
BOE officials said they will interpret economic data around the Brexit referendum with caution.

Click here to download a pdf of this article, Missile.pdf
 
 

Wednesday, May 4, 2016:

I think we will see more bankruptcy filinings for oil and gas companies in the 2nd quarter than we saw in the first.
Aeropostale filed for bankruptcy protection.  The company has moree than 700 locations in the US.
We have had a couple of days of very strong corn selling by farmers.
‚ÄčIn China, the biggest risk to the onshore bond market is refinancing risk.
March retail sales in the eurozone was -0.5% on the month, compared to expectations of a -0.1% drop.

Click here to download a pdf of this article, Missile.pdf
 
 

Tuesday, May 3, 2016:

SF Fed President Williams says the US can't ignore other global economies.
The European Commission cut Euro-Zone growth to 1.6% from 1.7%.
The Caixin Manufacturing PMI for China fell to 49.4 from 49.7.
SF Fed Pres Williams said insatiable demand for safe assets still there.
Goldman Analyst Robin brooks said the BOJ made a fateful miscalculation by not adding stimulus.
SF Fed President Williams said sees downside risk to equilibrium rates
The Royal Bank of Australia cut rates to a record low of 1.75%, citing a lower outlook for consumer growth.
UBS first quater profits missed estimates as net income fell 64%.
Commerbank bank's stock fell as much as 9.4% as their net income fell 50%

Click here to download a pdf of this article, Missile.pdf