Monday, September 07, 2015

Charts are up-to-date

Some that could be of interest:



  •  And if you want to scan all charts, one right after another, you can do so easily here



Sunday, September 06, 2015

QUICK OVERVIEW


  • The uncertainty over whether the  Fed will raise interest rate in two weeks still holds although the August jobs report showed the U.S. unemployment rate fell to the level the Fed considers to be full employment.
  • U.S. hourly wages rise 0.3% in August, up 2.2% YoY
  • Iranian consumers crave US and other western goods, endangering Chinese and Indian foothold.
  • U.S Factory orders rose 0.4% in July
  • U.S. construction projects rose 0.7% in July to a seasonally adjusted annual rate of $1.08 trillion, the highest level since May 2008.
  • U.S. Pending Home Sales, a forward-looking indicator based on contract signings, marginally increased 0.5% to 110.9 in July from an upwardly revised 110.4 in June and is now 7.4 percent above July 2014.
  • U.S. economy grows 3.7%  in Q2
  •  In the euro zone Germany has the lowest unemployment at 4.7% Greece the highest at 25%
  • France is at 10.4%
  • South Korea's export plunged 14.7% YoY
  • YoY Macau's GDP shrank  by 26% in Q2. Casino revenues are down some 40% - all thanks to a crackdown by China on corruption.
  • The dry bulk shipping market will remain in recession due to contracting demand for iron ore and coal, and any recovery is not expected until 2017, according to the Dry Bulk Forecaster report published by global shipping consultancy Drewry.
  • Falling demand and oversupply has severely impacted commodity values, with iron ore and coal prices in virtual free fall.
  • Less than 60 bulkers were contracted in the first seven months of 2015, a drop of 91% YoY, and down from more than 1,200 in full year 2013. Combined with the firm pace of deliveries, this has led to a 20% decline in the bulkcarrier orderbook since the start of 2015..
  • Mario Draghi says Europe  is ready to counter China slowdown and Brussels will use the tools at its disposal to prevent a broader crisis.
  • August was the worst month for British retail sales since the global financial crisis of 2008. Accountancy firm BDO said its monthly high street sales tracker (HSST) showed a 4.3% YoY fall in August sales — the biggest drop since November 2008 and the sixth monthly dip ...

  • Indian economy grows by 7% in first fiscal quarter.
  • Euro-zone jobless rate improves to 10.9 % in July
  • Philippine inflation at record low of 0.6% in August
  • British construction PMI up slightly to 57.3 in August
  • YoY global house prices rose 0.1%, so reports London-based property agent Knight Frank - the weakest rate of growth since the final quarter of 2011. Hong Kong-led with a 12-month increase of 20.7%, followed by Turkey (18.5%), Estonia (13.4%), Luxembourg (13.2%) and Ireland (10.9%). China, with a price decline of 5.7%, ranked 52nd on the list, while house prices in Greece, Cyprus, Ukraine and Dubai dropped by 5.9%, 6.5%, 12% and 12.2% respectively.

  • (MW) Oil futures pared losses after data from Baker Hughes released Friday showed that the number of active oil-drilling rigs fell 13 to 662 as of Sept. 4. The total active rig count, which includes natural-gas rigs, was at 864, also down 13 rigs. Compared to last year, the total rig count has fallen by 1,061, with the oil rig count down 922.


  • The Donald said the stock market rout was caused by "poor planning" and allowing China and Asia to dictate the agenda. "This could get very messy!" he said. Trump is leading in polls to be the Republican presidential nominee.  - Sarah Palin is planning to be  energy secretary in the Donald's administration.



Sunday, July 12, 2015

Killing the European Project
Can Greece pull off a successful exit? Will Germany try to block a recovery? (Sorry, but that’s the kind of thing we must now ask.) The European project — a project I have always praised and supported — has just been dealt a terrible, perhaps fatal blow. And whatever you think of Syriza, or Greece, it wasn’t the Greeks who did it.
EU Demands Complete Capitulation From Tsipras In addition to requirements to cut pensions and raise sales tax, which Tsipras accepted last week, the memo demanded that officials from Greece’s creditors return to Athens with full access to government ministers and a veto over relevant legislation, according to the document. Euro-area leaders also want Tsipras to transfer as much as 50 billion euros ($56 billion) of state assets to an independent Luxembourg-based company for sale and make him fire the workers he hired in defiance of Greece’s previous bailout commitments.

Tuesday, July 07, 2015

Ambrose Evans-Pritchard: ..
Instead they were confronted with a text from the creditors that upped the ante, demanding a rise in VAT on tourist hotels from 7pc (de facto) to 23pc at a single stroke. Creditors insisted on further pension cuts of 1pc of GDP by next year and a phase out of welfare assistance (EKAS) for poorer pensioners, even though pensions have already been cut by 44pc. They insisted on fiscal tightening equal to 2pc of GDP in an economy reeling from six years of depression and devastating hysteresis. They offered no debt relief. The Europeans intervened behind the scenes to suppress a report by the International Monetary Fund validating Greece's claim that its debt is "unsustainable",..

(This from a country that has never repaid its debts. See Piketty )