Recap 1-24-13

Commentary:

None

Notable:

  • US Initial Jobless Claims dropped to 330k vs 255k exp and 335k prev. 3 states submitted estimated data.
  • US Markit PMI jumped to 56.1 in Jan vs 53 exp and 54 prev
  • EU Flash PMI Composite increased to 48.2 vs47.5 exp and 47.2 prev. Germany surprised to the upside, while France disappointed.
  • Denmark hiked its lending rate to 30bps from 20bps, and the deposit rate to -0.1% from -0.2%.
  • China HSBC mfg PMI improved to 51.9, the highest level in 2 years

Upcoming Data:

  • Fri: ECB LTRO Announcement, German IFO, CanadaCPI, US New Home Sales,
  • Mon: US DGO, Pending Home Sales, South Korea Business Survey
  • Tue: US Home Price Index, Consumer Confidence,
  • Wed: EU Consumer Confidence, US ADP Employment, FOMC
  • Thu: ECB LTRO payment begins
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