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Thursday May 16, 2013 - 20:48:30 GMT
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More mixed U.S. data. Positive Japanese GDP
|More mixed U.S. data. Positive Japanese GDP|
17 May 2013 00:00 gmt
CALENDAR- .Far East: No Major Data.Europe: No Major Data. North America: CA- CPI, US- University of Michigan Survey, Leading Indicators, COT Report.
- HIGH IMPACT ITEMS: CA- CPI, US- University of Michigan Survey
- Japanese GDP grew .0.9% q/q (+3.50% pa) in 1Q13 after a revised +0.30% gain in 4Q12 (+1.0% pa) in 4Q12. The 1Q13 DP deflator was -1.2%, which is a net ADDITION to GDP.
- The Fed's Williams said in the NY afternoon that the central bank might be able to trim its bond purchases by the summer.
- Weekly jobless claims rose, unwinding a lot of their recent gains. They came in at +360K in the month, above tour 350K benchmark.. Housing data were mixed,but the underlying data were strong. CPI data were tame in line with the PPI report released on Wednesday, The Fed should not be having any inflation concerns driving future policy decisions.
- The purpose of the latest Fed signal was to desensitize markets to the QE tapering announcement when it comes. Expectations for an eventual end to QE has weighed on bond prices.
- Friday caps off a busy week with Canadian CPI data and the University of Michigan Survey.
||JGB 0.81% -7bp
||Bund 1.36% -4bp
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John M. Bland, an author and a founding partner of Global-View.com, has been a corporate FX consultant for a major N.Y. bank, a forex trader for a major N.Y. institution, and an FX analyst for a blue chip Fed watching service.. John has an MBA in International Finance and an A.B. in Economics from the University of California at Berkeley.
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