Thursday, May 26, 2016:
St. Louis Fed President Bullard (voter) said stronger labor market favors slow normalization.
Bullard also said the Fed is an "equal opportunity" worrier about Europe and Asia.
The rebalancing of oil is under way but, the latest tightening has come from outages and these are unlikely to last.
Corrosion-resistant steel from China will face final U.S. anti-dumping and anti-subsidy duties of up to 450 percent under the U.S. Commerce Department's latest clampdown on a glut of steel imports, the agency said on Wednesday.
Growth in the UK slosed to 0.4% in Q1. Business investment was up 0.4% y/y after rising 3.0% y/y in Q4 2015.
Wednesday, May 25, 2016:
St. Louis Fed President Bullard (voter) said there is no reason to prejudge the June meeting. The committee will look at the data and decide then.
In China the Minxin Manufacturing PMI index declined to 45.8 from 46.9 in April.
There are two concerns in China, the reliance on property collateral to secure loans has increased and property prices have also increased to a level that some argue are over-heated.
The ECB expanded the size of its debt-buying program in April by a third to E80b a month and appears to be running out of securities eligible under its own rules.
Tuesday, May 24, 2016:
Philly Fed President Harker said he can see the possibility of 2 or 3 hikes over the remainder of the year.
Loomis bond fund manager Stokes said she doesn't see a hike in June or July and thinks September is iffy.
Autonomous Reasearch Partner Charlene Chu said wealth-management products are the biggest immediate threat to the China's financial system.
Japan's exports fell sharply in April and manufacturing activity suffered the fastest contractions since late 2012.
All of the oil nations like Angola, Nigeria, Venezuela that have taken money for survival, have'nt an money left for investments...a danger to their long-term growth.
Monday, May 23, 2016:
St. Louis Fed Pres. Bullard (voter) said signs US growing below trend pace of 2%
SF Fed Pres Williams (non-voter) said it would be appropriate to start raising rates again later this year.
Ron Insana said inflations remains a phantom problem of the past.
El-Erain: If it weren't for the Brexit, he thinks the Fed would hike as soon as June.
UK finance Minister Osborne said the UK would lose at least 500k jobs over 2 years if they leave the EU.
EU PMI fell to 52.9 from 53.0. Expectations were for 53.2. PMI signals GDP around 0.3%.
Iran said it has no plans to join any freeze in crude oil.
Oil inventories rose from 57 days to 67 days.
Friday, May 20, 2016:
Almost 1/3 of US vehicles traded in this year were in negative equity and it's an unhappy signal for auto-maker profits.
Iron Ore inventories in China swelled to the highest level since March of 2015.
A fleet of 40 supertankers sit in Malaysian waters with nearly 48m barrels of oil, up 10% from the previous week.
Chinese regulators appoved 3 new coal-to-gas projects, depite pollutions risks & economic viability of the technology.
According to a report by analytics firm Dynamic Action, retailers sold 4% fewer items at full price in the first quater than a year ago, while the percentage of promotional products ordered online increased 63%.
Bookmakers have cut the odds on Britian voting to remain in the EU. By contrast, the FT poll of polls suggested, as of May 17, that 46% of the voters wish to stay v. 40% to leave.
Thursday, May 19, 2016:
Iron Ore mining giant Vales delivered a three-prong warning on prices.
China's Secretary General of the Iron and Steel Association said there is too much trade friction.
China said it will continue its tax rebates to steel exporters to support the painful restructuring.
US crude inventories climbed to the highest level since 1929.
Serious problems in the Chinese economy will reverberate in Russia.
NOIs on Multifamily property continue to increase.
The number of new apartments under construction is at its highest level since 1980.
Major institutional investors are ramping up their investment activity in self-storage.
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.
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.
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