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Thursday June 27, 2013 - 20:36:45 GMT
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Positive U.S. data. Friday is quarterend
|Positive U.S. data. Friday is quarterend|
28 June 2013 00:00 gmt
CALENDAR Far East: JA- PMI, CPI, Unemployment, Industrial Output. Europe: DE- Retail Sales.North America: US- Chicago PMI, University of Michigan Survey. COT Report
- HIGH IMPACT ITEMS: JA- PMI, CPI, Industrial Output, DE- Retail Sales, University of Michigan Survey
- U.S. data were mixed were generally positive on Thursday. Weekly Jobless Claims were were just below the 350K line, and Pending Homes sales were strong. The PCE deflator remained well below the Fed target for monetary policy. Pending Homes sales were based on activity measured well below the recent Bernanke testimony.
- On Thursday Minneapolis Fed President Motherland's said the markets had misunderstood Bernanke a week ago. We disagree, Bernanke was very clear laying out the path to a tapering of asset purchases last week, starting in 2H13 and ending by mid-2014. The unemployment trigger is 7.0%, subject to economic conditions.
- As for interest rates, a 6.50% jobless rate is now the "threshold" for starting to CONSIDER a tightening.
||JGB 0.83% -3bp
||Asia Close Higher|
||Bund 1.75% -2bp
||U.S. 2.48% -6bp
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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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15:00 US- Existing Homes Sales
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13:30 US- Weekly Jobless
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15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
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John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias
- POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic
- POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy
- POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
- POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
- POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
- POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release
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