Wednesday, 29 April 2015

Some interesting macro and related numbers today

A few interesting stories today...

Greece - Tsipras 'moots referendum if deal falls outside his mandate' (link here). Preparing the compromise...

China - hello internal QE...



 ...nothing of course to do with fading growth and competitiveness (of course):



FX/macro shifts - as per @predictedmarkets EUR/USD has rallied for 4 days in a row, adding +2.3%. Run has extended to 5 days once in the last 12 months, on 13th November 2014.  Why is this?  All eyes will turn to the US today, for the release of March quarter gross domestic product, and tomorrow for the outcome of the Federal Open Market Committee's policy meeting.  So all anti-$ trades catching support e.g. commodities.  I remain really sceptical you will see a hike later this year (which is still as per below the consensus): 


European politics / Brexit - The leadership of the European Union is open to treaty change if it helps convince Britain not to leave, Jean Claude Juncker has said, as he accused Britain of being “blind” to his support (link here). The EU needs the UK in my view…

UK growth – poor numbers yesterday as mentioned in Tuesday's wrapThisarticle puts it into electoral context (UK General Election a week tomorrow).  

And finally...Apple's cash pile relative to other corporate market caps really is quite material...


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