Recap 4-26-13

Commentary:

None

Notable:

  • US GDP rose 2.5% QoQ in 1Q vs 3.0% exp.
  • The BoJ sees core inflation at 1.4% in FY2014, excluding sales taxes. They see 1.9% core inflation in FY2015. 2013 real GDP at +2.9% up from the January forecast of +2.3%. FY2014 real GDP of +1.4% versus prior +0.8% forecast. The central bank said it will continue easing until inflation is 2% and stable. Two board members dissented on the new forecast.
  • Switzerland KOF LEI was stable at 1.02 vs 0.09 exp and 0.99 prev
  • China will get rid of income tax on interest income from local government bonds issued in 2012 and after.
  • “China needs to cement its domestic economic growth momentum and guard against potential risks in financial sectors,” the Politburo Standing Committee said in a statement – Bloomberg

Upcoming Data:

  • Mon: Italy Business Confidence, US Personal Income, Spending, Pending Home Sales, South Korea Mfg Business Survey, Japan Markit PMI
  • Tue: Month End, German Unemployment, Canada GDP, Chicago PMI, South Korea HSBC Mfg PMI, China Mfg PMI
  • Wed: UKMfg PMI, US ADP, ISM, Oil Inventories, FOMC, Japan Monetary Base, China HSBC Mfg PMI,
  • Thu: Italy Mfg PMI, ECB, US Trade Balance, Initial Jobless Claims, Australia Services PMI, China Non-Mfg PMI,
Advertisements