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Succinct Summation of Week’s Events

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By Peter Boockvar - January 21st, 2011, 3:00PM

Positives:

1) German IFO hits record high dating back to ’91, ZEW hits 6 month high
2) French business confidence near 3 yr high
3) Bonds of Portugal, Greece, Ireland, Spain, etc… rally on possibility of EFSF supported debt buybacks
4) China Q4 GDP, IP, and retail sales above expectations
5) US initial claims head down again (seasonality caveat but trend still lower)
6) Philly and NY mfr’g surveys about in line at good levels
7) Existing Home Sales above forecasts
8) Brazil proactive in cooling inflation with rate hike

Negatives:

1) Asian markets all lower on inflation and rate hike fears
2) Inflation apparent in NY and Philly mfr’g surveys, German PPI, UK CPI, Hong Kong CPI and Chinese CPI and PPI
3) US, German, UK and French long term bond yields also head higher
4) Brazil raises rates
5) The greatest CEO of our time takes another medical leave and we hope he’s back soon.

PERMALINK
Category: Markets.

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.

6 Responses to “Succinct Summation of Week’s Events”

  1. Arequipa01 Says:
    January 21st, 2011 at 3:15 pm

    8) cooling inflation
    WRT to BRL- I wonder why some houses are kinda touting Embraer (ERJ).

    http://www.reuters.com/article/idUSN2124754520110121

    Can a strong real and an exporter like Embraer dance in sync or will it turn out like Conan doing the Samba?

    The swaps don’t seem to be doing much. Have they cornered Dilma?

  2. rktbrkr Says:
    January 22nd, 2011 at 6:26 am

    Starting to look like Ben B will accomplish “Mission Impossible” – high unemployment AND inflation – gotta ratchet up the pain for the non-working class as the next leg in this non depression.

  3. rktbrkr Says:
    January 22nd, 2011 at 6:33 am

    BAC chickens coming home to roost, big losses in spite of their sweetheart deal with F&F.As far as “everything but the kitchen sink” reported this Q – that term was used Q after Q for all the big banks before the accounting rules were changed for them. But with or without convenient accounting rules the reality of 7 or 8 million foreclosures can only be delayed not avoided by BAC and the other biggies, time for another round of bailouts is coming!

    http://www.miamiherald.com/2011/01/22/2027887/bank-of-america-reports-huge-loss.html

  4. Investradamus Says:
    January 22nd, 2011 at 12:54 pm

    Bank failures #4-7 on Friday. Unofficial Problem Bank list continues to add more than it removes:

    http://www.calculatedriskblog.com/2011/01/bank-failure-7-for-2011-united-western.html
    http://www.calculatedriskblog.com/2011/01/unofficial-problem-bank-list-increases_22.html

  5. VennData Says:
    January 22nd, 2011 at 4:56 pm

    Banks Ease Card Fees

    …The GOP was wrong again.

    http://online.wsj.com/article/SB10001424052748703951704576092342255305526.html

  6. seneca Says:
    January 23rd, 2011 at 12:09 pm

    A graph of the Conference Board’s Index of Leading Economic Indicators has gone parabolic. It appears that the Great Recession won’t be here to kick around much longer.

    Have a look at page 2 of the Conference Board’s recent LEI press release:
    http://www.conference-board.org/pdf_free/press/PressPDF_4107_1295514244.pdf

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