Recap 9-27-13

Commentary:

http://www.gallup.com/poll/164648/tea-party-support-dwindles-near-record-low.aspx

· Fully half of Americans, 51%, currently say they are neither a supporter nor an opponent of the Tea Party, or they have no opinion about it.

· Similarly, just as Republicans are mixed in their views of the Tea Party, Tea Party supporters themselves have mixed views about the Republican Party: 55% hold a favorable view of it and 43% an unfavorable view.

The Tea Party has been getting a lot of attention lately. And despite the fact that they are willing to risk a government shutdown and default, it’s interesting to me that 1) most Americans are fairly apathetic or neutral about them, and 2) the Tea Party supporters seem to see themselves as quite separate from the Republican party.

Notable:

  • Japan Nationwide CPI ex fresh food increased 0.8% y/y in Japan versus 0.7% expected. This is near a five year high.
  • UK Consumer Confidence improved to -10 in Aug vs -11 exp and -13 prev, the highest print since Nov 2007
  • US Personal Spending rose 0.3% MoM as exp vs 0.1% prev

Upcoming Data:

  • Mon: Month End, South Korea Business Survey, Japan PMI, AU Private Sector Credit, China HSBC Mfg PMI, Canada GDP, Chicago PMI, End of US Fiscal Year
  • Tue: China Mfg PMI, Australia Retail Sales, RBA, EU PMI, US PMI, Japan Money Supply, Australia Trade Balance, Building Approvals
  • Wed: ECB, US ADP Employment, China Non-Mfg PMI
  • Thu: Europe PMIs, US Jobless Claims, ISM Non-Mfg, China Markit Services PMI
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