May 11th, 2011 by Belisarius
*** The Big Picture: How Microsoft Caused the DotCom Bubble and why their Skype ‘Hail Mary’ is irrelevant ***
*** The Big Picture: Please Take My Money for a 1% Return Back ***
*** FT Alphaville: From Quito, to Kingston, to Athens? ***
*** FT Alphaville: Chinese commodity imports are falling ***
*** Streetwise Professor: No Margin For Error ***
*** The Source: Silver’s Modern Day Panic ***
*** The Atlantic: The World’s 26 Best Cities for Business, Life, and Innovation ***
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May 11th, 2011 by Belisarius
hina fixed asset investments were up 25.4% y-o-y in April; March reading was at 25.0%. Consensus was at 24.9%.
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May 11th, 2011 by Belisarius
China retail sales rose 17.1% y-o-y in April vs. 17.4% March reading. Consensus was at 17.6%.
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May 11th, 2011 by Belisarius
Industrial production in China was up 13.4% y-o-y in April; March reading was at 14.8%. The consensus was at 14.6%.
Somewhat soft.
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May 11th, 2011 by Belisarius
China Consumer Price Index was up 5.3% in April, vs. 5.2% consensus and 5.4% March reading. Food CPI edged lower from 11.7% y-o-y to 11.5% y-o-y; Non-food CPI remained at 2.7% y-o-y.
China Producer Price Index was up 6.8% vs. 7.0% consensus and 7.3% March reading. Declining which is a good sign for the CPI.
Overall, PBOC efforts to contain inflation are catching up.
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May 11th, 2011 by Belisarius
The most broad measure of money supply – M2 rose 15.3% y-o-y in April vs. 16.6% consensus and 16.6% rise in March.
Chinese banks issued CNY 740 billion of new loans in April vs. CNY 679.5 billion in March and consensus of CNY 700.0 billion. The government has not provided a target for this year, but inferring on Q1 numbers the pace of loan growth could be similar to last years pace.
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