Recap 2014-09-18




  • Philly Fed declined to 22.5 in Sept vs 23 exp and 28 prev
  • Housing Starts were weak, falling to 956k vs 1.04mm exp and 1.12mm prev, a drop of 15%. The multifamily component was a large driver – single family declined only 2.4%.
  • US Jobless Claims dropped to 280k vs 205k exp and 315k prev
  • ECB TLRTO first tender generated 82.6bn of credit, which was only about a third of expectations for the combined takeup for both tenders.
  • UK Retail Sales ex fuel rose 0.2% MoM vs 0.3% exp and 0.4% prev


  • Fri: Quadruple Witching, Canada CPI
  • Mon: US Existing Home Sales, EU Consumer Confidence, Dudley speaks, HSBC China Mfg PMI
  • Tue: EU PMI, US FHFA House Price Index, US Markit Mfg PMI, Japan Mfg PMI
  • Wed: German IFO, Italy Consumer Confidence, US New Home Sales,
  • Thu: EU Money Supply, US Jobless Claims, Durable Goods Orders, Markit Services PMI, Japan CPI