Wednesday, 25 February 2015

Headlines and charts today

China – country slowing awakening from post New Year celebrations. China HSBC Manufacturing PMI (Feb, P): 50.1 (exp 49.5 prev 49.7) 4-month high…however export orders sub-index falls most since Jun'13.  Also interesting that China Said To Ready Policies To Aid Property If Slump Continues (link here).

Macau gambling revenues might post a -50%+ yoy fall.   Macau casino shares plunged in Hong Kong trading on weak gambling over the Lunar New Year holiday period and expectations revenue from Chinese high-rollers will continue to slump in coming months. Wells Fargo & Co. said its checks suggested weak revenue trends in both VIP and mass segments, with a number of mass tables empty on the third and fourth days of Lunar New Year, analyst Cameron McKnight wrote in a note. Macau gross gaming revenue may fall 53.5 percent this month, according to the median estimate of eight analysts surveyed by Bloomberg, worst than the 40 percent drop forecast before the holiday started.

China #2 - PBoC sets the $CNY mid point at 6.1384 vs. last close. 6.2551 (Prev. mid point 6.1330) - WEAKEST SINCE FEBRUARY 2ND

Japan -  cabinet on Tuesday put off a large-scale governance overhaul of the nation’s $1.1 trillion public pension reserve fund that was advocated by the welfare minister

UK interest rates -  Bank of England rate setters appeared more fractured than at any time since the arrival of Governor Mark Carney when they appeared before MPs on the Treasury Select Committee on Tuesday.  Link here.  

US interest rates – Hilsenrath in WSJ argues rates going up: ‘Yellen Puts Fed on Path to Lift Rates…Low inflation remains a concern, but economic growth and job gains argue for a move later this year’

Nasdaq – 10th consecutive rise but Consumer Confidence in February saw the largest monthly decline since October 2013

Facebook to overtake P&G market cap?

Global defence spending trends –

Rise of the US monetary base!

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