Tuesday, 2 June 2015

A few quick macro observations

Greece – Summary from the extraordinary session late into the night: “The participants in the talks were in close contact in recent days and want this to remain the case in the coming days both among themselves and of course with the Greek government.”  Do a deal! 

Rising inflation in Europe – nice use of the inflation data yesterday (link here) to highlight that QE is having an impact on the price inflation…now the question is where is the economic growth

Japan – briefly USDJPY breaks above 125.00 for the first time since 2002.  Fell back later and the lack of yet more weakness in the yen meant the Japanese market could not post a 13th successive rise…still real wages were just positive...Still feels all about the yen...


100 year bond – from Petrobras.  “The century bonds priced with a yield of 8.45 per cent, below guidance of 8.85 per cent set earlier in the day and at the bottom of earlier indications in mid-afternoon trading in New York”.  Well people said they wanted yield!  Sufficient compensation?  Well it is a real asset denominated in dollars.  At a push I would probably prefer the Petrobras share...

US savings rate - is...rising.  Good for economic balance, bad for shorter-term consumption levels/growth:




10 themes for this summer nice via Fast FT (paywall) .  US rates, Greece and much more…

Media shifts...


No comments:

Post a Comment