morning note/Choo Choo

By Peter Boockvar - May 4th, 2009, 7:30AM

China today is again proving that it’s the most important country in the
world right now in terms of being the engine of global growth that can
pull the other train cars with it after the CLSA mfr’g PMI index rose
above 50 for the 1st time since July (due to the still ongoing massive
deleveraging in the US, we may be the caboose in this recovery process).
It came in at 50.1, up from 44.8 in March. The CLSA # is more private
sector weighted unlike last week’s PMI # that is more centered on state
enterprises and has been above 50 for two straight months. Asian stocks
were up big overnight. With the results of the Treasury ‘stress test’
now expected to be released on Thursday, details keep getting leaked on
who needs what. The papers over the weekend said Citi needs $10b and the
FT today said BoA may need more than that. March Pending Home Sales are
out at 10am. On Friday, Bankrate.com said the avg 30 yr mortgage rate
rose to a 2 1/2 week high.

PERMALINK
Category: MacroNotes.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

One Response to “morning note/Choo Choo”

Comentário semanal « Notícias do mercado Says:
May 5th, 2009 at 2:53 pm
[...] especificamente, os sinais vindos da China – como o índice de gerentes de compras divulgado na segunda – sugerem que a retomada do crescimento naquele país pode ser a locomotiva [...]