Wednesday, 30 September 2015

A few macro and related stories today...

A few macro and related stories today...

Last day of the quarter – Not been an easy Q3…markets look to be leaving the quarter on a better tone...

Global competitiveness – new WEF economic competitiveness data out. UK slips behind Sweden, Switzerland still tops, Germany/Netherlands up, Finland down (link here)


Greek depression vs US depression – Europe still not easy! 


(h/t @fmirw)

China - The Westpac MNI China Consumer Sentiment indicator was 118.2 in September, the fourth consecutive month of increase and the highest level since May 2014.  So why up?  ‘Only 11 per cent of their respondents said they actually invested in the market, meaning "the majority of consumers barely batted an eyelid" during the rout (quote via Fast FT). Interesting to see too big boost for auto sales announced today too in China...

Meanwhile…everyone loves India



Japan – poor industrial and retail trade economic figures today have led JPMorgan to say that Japan is probably in recession revising lower its annualized Q3 GDP forecast to -1%.  I would agree.  I listened to the Japanese PM Abe speak at a Bloomberg event making the observations yesterday that:

Listening to speak on . Pledges reform, more female participation, demographic & "economics, economics, economics" focus

speaks well, 'Abenomics 2.0' etc. but talk is simple, implementation is different. So far got to report card v mixed

Commodities – best YTD…was rice! (link here)

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