Friday, 3 April 2015

Some Good Friday macro thoughts

Not many markets open today as it is Good Friday but a few macro thought to consider ahead of the non-farm payrolls numbers later (a good preview for that can be found here).  Certainly though no great improvement in UK productivity today (Financial Orbit will be posting however!)


First some Asian (services/composite) PMIs.  For once the Chinese data was...a little dull:


As for Russia however...the best you can say is that it is not as bad as 2008 (although Markit are seeing a tentative improvement!)
As for Japan it is slip-sliding away a little...

 ...although I note that @RANsquawk is noting today that.  Will need to follow that up...

2014 YEAR END BONUS UP 1.9% Y/Y FIRST RISE IN 6 YEARS AND LARGEST GAIN SINCE 2004!!!!!!

I am still ploughing through the Iran deal news and have not got any firm commodity related conclusions BUT on gold this excellent chart indicates the notion that if China is buying a lot of something then maybe you should follow...you know my favoured stock picks (link here):


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