December 1st, 2010 by Belisarius
Looks like meltdown is averted; ECB will probably announce further bond purchases on it’s tomorrows Governing Council meeting.
Portugal managed to sell €500 of 12-month bills at bid-to-cover ratio of 2.5 times despite S&P negative credit watch issued yesterday.
Waiting for another ride in a few months…
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December 1st, 2010 by Belisarius
China and OECD leading indicators, Portugal on negative credit watch and Euro crisis….
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December 1st, 2010 by Belisarius
MBA mortgage applications fell 16.5% on the back of declining refinancing; Prior reading was an increase of 2.1%; On year level MBA Basic Index is down 0.8%…
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December 1st, 2010 by Belisarius
ADP Employment rose 93.000 in November vs. revised (up 12,000) gain of 70,000 in October. Consensus was at +70,000. Nonfarm payrolls on Friday (rule of thumb) could be close to or maybe little short of a 168.000 consensus.
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December 1st, 2010 by Belisarius
Challenger’s count of layoff announcements was reported at 48,711 in November vs. 37,986 in October.
For the time being I expect positive employment report on Friday. Concerning Challenger Job-Cuts: a slightly negative surprise.
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December 1st, 2010 by Belisarius
Official China PMI rose from 54.7 to 55.3; The HSBC/Markit PMI rose from 54.8 to 55.3. Reading above 50 means expansion.
Large gap between PMI’s and industrial production growth.
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