G3 Recap 4-25-11

Main Items:

  • Dallas Fed Manufacturing dropped to 10.5 in April vs 13.7 expected and 11.5 previously

Overseas:

  • Finland’s finance minister, who is set to lead the next government, said it would participate in the rescue efforts for Portugal. Reuters
  • Xu Lianzhong, an official at the National Development and Reform Commission’s price supervision department, said China’s CPI would probably come in at +4.9-5.1% in Q2 and a bit under 5% in the second half.
  • The government in Japan said the risk of major radiation leaks or explosions at Daiichi has receded. WSJ
  • Friday was one of the bloodiest days in the entire “Arab Spring” as more than 100 people were killed in Syria by security forces.
  • Japan’s public pension fund is planning to withdraw ~$78B from assets this fiscal year to pay for shortfalls between its inflows and pension obligations. The fund will likely raise cash by selling JGBs and other assets. Reuters

Commentary:

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2 thoughts on “G3 Recap 4-25-11

    1. Hi Corelio – thanks for sending that. There is definitely going to be continued social unrest as a result of this. Hopefully this will draw some EM Asian government funds towards transportation infrastructure, but I am not optimistic.

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