Recap 2-28-13




  • US Jobless Claims dropped to 344k in Feb vs 360k exp and 362k prev
  • Chicago PMI improved to 56.8 in Feb vs 54 exp and 55.6 prev
  • EU Core CPI in the euro-zone dropped to 1.3% y/y vs +1.5% exp and prev
  • German Unemployment dropped -3k in Feb vs 0 exp and -16k prev. Unemployment ticked higher to 6.9% vs 6.8% exp and prev
  • Australia Capex Expectations for the 2012-13 fiscal year declined 1.3% from the last estimate
  • South Korea Mfg Business Survey improved to 76 vs 72 prev.
  • Japan Markit Mfg PMI improved to 48.5 vs 47.7 prev
  • Kuroda was officially confirmed as the BoJ governor nominee, with Iwata and Nakaso as deputy governors. Markets appear to expect that all will get the nod. Hearings will be held in Mid March.
  • Vale reported 4Q adjusted EBITDA at $4.4B, 7% below consensus.

Upcoming Data:

  • Fri: US Sequestration starts. ItalyMfg PMI, UKMfg PMI, US Personal Spending, ISM Mfg
  • Mon: AustraliaCurrent Account, China HSBC Services PMI, RBA
  • Tue: Italy / UK / US Services PMI, EU Retail Sales