Tuesday, 7 April 2015

A few macro and related stories this morning

A few stories, graphics and facts that have caught my eye this morning: 

Greece payment schedule in next 10 days:
Thu 9th Apr €450m to IMF
Tue 14th Apr €1.4b Bill redemption
Fri 17th Apr €1.0b Bill redemption

Although they hope to raise some money this way: ‘Germany owes Greece 278.7 bln in WWII reparations says minister’ as per this report.  


The RBA in Australia holds interest rates whilst Atlas Iron suspends its shares due to sharp decline in the iron ore price (racked up big losses over the last year or so)

I did note in the RBA's comments that:
Lower A$ Likely Needed To Achieve Balanced Growth -Further A$ Depreciation Seems Likely.  

They want a lower currency!

"In extreme winter years, 2Q GDP growth nearly always exceeds 1Q and five out of the last seven times has at least rebounded to 4Q levels. This means 2Q GDP growth is at the very least likely to have a 2 handle" (h/t @fastFT).  Fair enough but not convinced this time, not with the strong dollar too.  



Reminder of the Ben Bernanke critique late last week:



And finally...Facebook, Alibaba and Xiaomi are leading Google in something: 


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