Succinct Summations week ending April 5, 2013.


1) Bank of Japan pledged to double its government bond holdings, seeking to end almost 20 years of deflation
2) February U.S. construction spending +1.2% vs expectations of +1%.
3) Total vehicle sales in March totaled 15.22mm slightly less than expectations of 15.30mm
4) Draghi hints ECB may act more aggressively to spur growth
5) February factory orders grow 3% vs expectations of 2.9%, -2% previously.
6) NY ISM employment reports a strong 57.3 v expectations of 49.3
7) Partial easing of capital controls in Cyprus
8) MBA said purchase apps rose 1.4% on the week
9) Ford U.S. March sales up 6% vs expectations of 3.8%.
10) Gasoline falls to 7 week lows at $3.63.


1) Nonfarm payroll rose 88k v expectations of190k (biggest miss since June 2011)
2) Workforce participation rate falls to 63.3 (lowest since 1979).
3) European bank stock index closes down for 4th straight week
4) Jobless claims rise to 385k, Highest weekly claims reading since Thanksgiving.
5) ADP employment change for March +158k, v estimates of +197k, down 3 of the last 4 months.
6) Euro-area unemployment rate rises to record 12% (19 million unemployed)
7) ISM comes in at 51.3 v expectations of 54. It was the lowest print since December.
8) Greece’s March PMI came in at 42.1, below 50 which signals contraction
9) U.S PMI falls to 54.6 from 54.9 last month, fairly innocuous.
10) S&P500, Dow and the Nasdaq all ending lower for the week
11) S. Korea March exports rise 0.4% yoy vs expectations of +1.8%

Category: Markets

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3 Responses to “Succinct Summation of Week’s Events (April 5, 2013)”

  1. Concerned Neighbour says:

    Do I get a cookie for my earlier call on this very blog that the “market”, for the umpteenth time, would experience a miracle pump in the afternoon to erase almost all of the day’s losses?

    What a truly epic farce these “markets” have become.

  2. call me ahab says:

    “Bank of Japan pledged to double its government bond holdings”

    definitely a positive- LOL

    worldwide Ponzi- lever up or die