Friday, 9 January 2015

Charts and thoughts today

A few charts and thoughts today...

China – CPI higher, PPI lower - China’s inflation climbed just a touch (higher vegetable prices) to 1.5% year-on-year in December, producer-price index slipped 3.3% from a year ago for its 34th month in a row of declines (and largest decline in over 2 years).  A great chart here via @jpwwhite123.  Productivity or high competition is pushing down inflation levels in manufacturing goods?  Probably a bit of both...but again shows China in transition.  

Europe –perhaps Draghi should look at bond markets first... 
...or maybe Mario has been doing some trading (European bonds have been the place to be on a risk-adjusted basis):

Meanwhile the euro is getting very close to where it launched from against the US dollar (and fell in price from...): 

I will link my posting on Tesco on a third party site later but two pieces of news.  First I see Moody's have cut the company's bond rating to junk... a bit harsh in my view.  Second the Daily Mail had this interesting basket comparison.  Tesco matches up ok...but Waitrose cheaper than Morrisons?!

Non-farm payrolls in the US later...maybe the inflation stats are more interesting to watch.   

A few final charts...great demographic linked chart:

Where to go on holiday from a US dollar perspective if you want to maximise your recent currency moves uplift:

Finally interesting average temperature map of the US for 2014...some hot but more colder than average. So much for generalised global warming? Or just local systems?


  1. Kudos to Mario for the truth that CBs exist to prop up stocks these days!

  2. Old habits from his GS days die hard!