Recap 7-10-13

Commentary:

None

Notable:

  • China exports dropped -3.1% YoY vs +3.8% exp, the first ‘real’ decline since 11/09. Imports dropped -0.7% vs +6% exp. Crackdown on phantom invoicing remained a possible culprit.

Upcoming Data:

  • Wed: Australia Employment
  • Thu: BoJ, US Jobless Claims
  • Fri: UMichigan Confidence, JPM and WFC reports
  • Mon: China GDP, IP, Retail Sales, US Empire Mfg, Retail Sales
  • Tue: UK CPI, German Zew, US CPI, NAHB Housing Market index
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