Recap 12-3-12

Commentary:

2013 Trade Ideas sent in a separate email. Readers, please feel free to share your thoughts. Opposing viewpoints are particularly appreciated.

Notable:

  • Manufacturing PMI’s for Nov:
  1. US ISM dropped to 49.5 vs 51.4 exp and 51.7 prev. Hurricane Sandy is being blamed for the weak print.
  2. China HSBC Mfg PMI improved to 50.5 vs 40.4 exp and 49.5 prev
  3. Italy PMI declined to 45.1 vs 46 exp and 45.5 prev
  4. Spain PMI improved to 45.3 vs 42.5 exp and 43.5 prev
  5. UK PMI improved to 49.1 vs 48 exp and 47.5 prev
  6. South Korea HSBC PMI improved to 48.2 vs 47.4
  7. China Non-Mfg PMI stable at 55.6 vs 55.5
  8. Australia PMI declined to 43.6 vs 45.2 prev
  9. Sweden PMI stable at 43.2 vs 43.1 prev
  10. Brazil PMI improved to 52.2 vs 50.2 prev

The SEC is charging the Big 4 Accounting firm’s Chinese branches.

Upcoming Data:

  • Tue: Spain Unemployment, BoC, China HSBC Services PMI
  • Wed: Italy, Spain and UK Services PMI, EU Retail Sales, US ADP, ISM Non-Mfg, Australia Employment
  • Thu: Swiss CPI, Unemployment, BoE, ECB, US Jobless Claims,
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