Recap 10-26-12

~ globalmacrotrading

Commentary:

None

Notable:

  • US 3Q GDP rose 2% vs 1.8%. 0.7% came from government spending.
  • JPM: For AAPL, the “real” problem was the Dec guide and specifically the GM outlook (36% vs. the St ~43% and vs. the 40% posted in the Sept Q). AAPL usually guides conservatively but there is some concern about whether new products (like the iPad Mini) are carrying materially lower margins than prior ones
  • Table below from Asymco:

Upcoming Data:

  • Mon: South Korea Business Survey, US Personal Income, Spending
  • Tue: BoJ, Japan PMI
  • Wed: Month End, EU CPI, Unemployment,

Published by globalmacrotrading

I am a G20 Global Macro Portfolio Manager in NYC. My background includes stints at a major investment bank, a commodities market maker, and one of the world's largest global macro hedge funds.