Recap 5-17-13

Commentary:

Further evidence that people are not overly enthused (h/t allstarcharts.com)

Notable:

  • U Michigan Confidence jumped to 83.7 in May vs 77.9 exp and 76.4 prev
  • Canada Core CPI declined to 1.1% YoY in Apr vs 1.2% exp and 1.4% prev
  • Mexico GDP declined to 0.8% YoY in 1Q vs 1.1% exp and 3.2% prev
  • Reuters, “President Xi has taken charge of drawing up ambitious reform plans to revitalize the economy. A consensus has been reached among the leadership that reforms, and not more stimulus, are the only way to spur growth. Xi will present the reforms at a key meeting of the ruling Communist Party later this year that will set the agenda for the next decade… Xi will present the reforms at a key meeting of the ruling Communist Party later this year that will set the agenda for the next decade, signaling his seriousness to see breakthroughs, the sources told Reuters”
  • WorleyParsons Ltd., Australia?s largest oil and gas engineering company, plunged 13 percent after forecasting weaker earnings.

Upcoming Data:

  • Mon: Chicago Fed National Activity Index, RBA Minutes
  • Tue: UK PPI, CPI, Dudley Speaks, Japan Merchandise Trade Balance, Australia Westpac Consumer Confidence
  • Wed: BoJ, BoE Minutes, Canada Retail Sales, Bernanke, US Existing Home Sales, China HSBC Flash Mfg PMI
  • Thu: EU PMI, UK Retail Sales, GDP, US Jobless Claims, Preliminary Markit Mfg PMI
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2 thoughts on “Recap 5-17-13

  1. Interesting AAII overlay … major sentiment peaks are not as concurrent with sig. market peaks as I would have expected, certainly not to the same degree as the troughs.

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