Recap 4-23-13




  • European Commission president Barroso said that the EU’s focus on austerity has hit the limits of public acceptance. He also signaled that governments would be given more leeway if they were struggling to get their budget deficits within the required ceiling of 3% of GDP. – Guardian
  • US House Price Index increased 0.7 % MoM in Feb as exp vs 0.6% prev
  • US Preliminary Markit PMI declined to 52 vs 53.9 exp and 54.6 prev
  • EU PMI for April:
  1. France Mfg improved to 44.4 vs 44.1 exp and 44.0 prev
  2. France Services improved to 44.1 vs 42 exp and 41.3 prev
  3. Germany Mfg declined to 47.9 vs 49 exp and prev
  4. Germany Services declined to 49.2 vs 51 exp and 50.9 prev

Italy Consumer Confidence improved to 86.3 vs 85 exp and 85.2 prev

Italian 10y Yield broke below 4%, the first time since 2010.

China HSBC Flash Mfg PMI declined to 50.5 vs 51.5 exp and 51.6 prev

Japan Small Business Confidence declined to 49.4 in Apr vs 49. prev

Canada Feb Retail Sales declined to 0.8% MoM vs 0.3% exp and 1.0% prev

Upcoming Data:

  • Wed: German IFO, US Durable Goods Orders, Oil Inventories
  • Thu: UKGDP, US Jobless Claims, Japan Markit PMI, CPI
  • Fri: BoJ, Swiss KOF LEI, EU Money Supply, US GDP, U Michigan Confidence