Global Investing

Three snapshots for Friday

JPMorgan profit beats expectations:

In China the annual rate of GDP growth in the first quarter slowed to 8.1 percent from 8.9 percent in the previous three months, the National Bureau of Statistics said on Friday, below the 8.3 percent consensus forecast of economists polled by Reuters.

Italian industrial output was weaker than expected in February, falling 0.7 percent after a revised 2.6 percent fall the month before, data showed on Friday. On a work-day adjusted year-on-year basis, output in February fell 6.8 percent, compared to a revised 4.6 percent decline in January.

Three snapshots for Thursday

U.S. jobless claims unexpectedly rose last week to their highest level since January:

The unemployment rate in Greece rose to 28.1% in January.

Gold mining equities continue to underperform the metal:

Three snapshots for Tuesday

Italy and Spain are back in focus as bond yields and spreads start rising again.

The latest Sentix euro zone investor sentiment index also seemed to confirm the feeling that crisis worries are back falling to -14.7 in April.

U.S. small business confidence dropped in March for the first time in six months:

Three snapshots for Wednesday

Markets starting to worry about an end to QE/LTRO liquidity?

 

Forward looking PMI data is starting to show a divergence between the UK and the euro zone:

German factory orders, which tend to lead GDP growth, fell 6.1% in February from the previous year.

Three snapshots for Tuesday

A good sign for UK growth – activity in Britain’s construction sector unexpectedly accelerated in March, the Markit/CIPS  Purchasing Managers’ Index rising to 56.7 from February’s 54.3.

An update on cross-asset performance this year as we head into the 2nd quarter:

Equity risk premium by region:

 

Three snapshots for Monday

ISM report on U.S. manufacturing shows PMI at 53.4 in March against 52.4 in February:

Euro zone unemployment rose to 10.8% in February, with youth unemployment in Spain reaching 50.5%

China’s official Purchasing Managers’ Index (PMI) hit an 11-month high with a stronger-than-expected reading but a separate private survey by HSBC, which focuses more on smaller factories than the large state-owned enterprises captured in the official data, painted a gloomier picture:

Three snapshots for Friday

The correlation between individual country equity indices is rising again:

U.S. consumer spending jumps in February but income growth tepid.

Apple vs. RIM market value:

Three snapshots for Thursday

OECD growth forecasts released today show the euro zone countries lagging behind other G7 countries:

Reuters latest asset allocation polls showed global investors cut government debt from portfolios in March:

Germany’s unemployment rate fell to a record low of 6.7% in March, bucking the trend in other euro zone countries:

Three snapshots for Wednesday

Spanish stocks jump out as the only only major equity market to miss out on the strong first quarter:

Euro zone money supply growth picked up in February but growth in private sector loans dipped.

The UK faces bigger hill to climb after fourth quarter GDP cut.

Three snapshots for Friday

Yesterday’s much worse than expected PMI data from the euro zone has pushed the Citigroup economic surprise index for the region below zero.

Germany has been one of the strongest performing equity markets this year but is still in the middle of the pack compared to other European countries on valuation.

U.S. new home sales slipped 1.6 percent to a seasonally adjusted 313,000-unit annual rate. Economists polled by Reuters had forecast sales at a 325,000-unit rate in February.