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Great Graphic: US Profit Margin Expectations

February 11, 2013
This Great Graphic was posted on Business Insider by Sam Ro.   In appears to originally come from Goldman Sachs.   It captures expectations for US corporate profit-margins. 
The chart contrasts the bottom up consensus with Goldman's top down forecasts.   The former calls for a 9.3% increase in net margins,while the latter (Goldman) says 8.7%…
Great Graphic: US Profit Margin Expectations Great Graphic: US Profit Margin Expectations Reviewed by Marc Chandler on February 11, 2013 Rating: 5
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Euro Area Financial Conditions Continue to Improve, but...

February 11, 2013
The ECB reports that in the week to Feb 1, its balance sheet fell by 160 bln euros top 2.77 trillion.  This is the largest decline since Jan 2009 and largely reflects the early repayment of the first LTRO.  It is the smallest the ECB balance sheet has been since just before the second LTRO a year ago.     
In addition, new bank borrowing from the …
Euro Area Financial Conditions Continue to Improve, but... Euro Area Financial Conditions Continue to Improve, but... Reviewed by Marc Chandler on February 11, 2013 Rating: 5
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Searching for the Signal in FX

February 11, 2013
Many of the major Asian markets are closed for the Lunar New Year.  This week's G7/G20 meetings are drawing attention amid reports that officials may release a statement to address the fears of a currency war.  Even a formal statement is not forthcoming, we expect 1) such statements to come from the G7 rather than the G20 and 2) for the usual…
Searching for the Signal in FX Searching for the Signal in FX Reviewed by Marc Chandler on February 11, 2013 Rating: 5
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Great Graphic: High Costs of Consumption in China

February 09, 2013
The low cost of living in China is often confused with a low price for consumer goods. This Great Graphic from Economy Watch, shows that many consumer goods, particularly international brands, are more expensive in China.   Economy Watch drew from data on three different web sites:  e.weibo.com, East-West-Connect.com and sohu.com.  
To understand …
Great Graphic: High Costs of Consumption in China Great Graphic:  High Costs of Consumption in China Reviewed by Marc Chandler on February 09, 2013 Rating: 5
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Currency Positioning and Technical Outlook: Correction or Reversal?

February 09, 2013
Last week the euro was the weakest of the major currencies and the recently beaten up sterling and yen were the strongest.   A similar pattern was also evident in the dollar-bloc.  The New Zealand dollar had been the strongest and last week had was the weakest, with the Canadian dollar faring somewhat better.  The Australian dollar has been trend…
Currency Positioning and Technical Outlook: Correction or Reversal? Currency Positioning and Technical Outlook: Correction or Reversal? Reviewed by Marc Chandler on February 09, 2013 Rating: 5
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Draghi Strikes Again: Talk, but No Change

February 07, 2013
The euro fell to below our $1.34 corrective target in response to ECB President Draghi's comments.  However, bids near $1.3375 appears to have stemmed to rout, at least for the moment.  It is not clear yet, if the low is in place for the day.  However, we continue to believe this decline is corrective in nature and anticipate the resumption o…
Draghi Strikes Again: Talk, but No Change Draghi Strikes Again:  Talk, but No Change Reviewed by Marc Chandler on February 07, 2013 Rating: 5
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Great Graphic: Income, Wages and Productivity

February 06, 2013
This Great Graphic captures a key economic fact that shapes the political discourse.  Nearly every issue is informed by it.
It was created by a couple progressive think tanks and kudos to Michael Scherer from Swampville a Time blog for popularizing it. 
The social, political and economic implications of this chart are critical.
Yet, I suggest th…
Great Graphic: Income, Wages and Productivity Great Graphic:  Income, Wages and Productivity Reviewed by Marc Chandler on February 06, 2013 Rating: 5
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Great Graphic: Big Macs in the Euro Area

February 06, 2013
This Great Graphic was on the Bruegel blog.  It re-organizes he Economist's Big Mac Index to look at the euro area. 

Recall that what the Economist did was take the concept of purchasing power parity and make it, well, palatable.  The concept is that a basket of tradable should sell for the same price in different countries.  To the extent the…
Great Graphic: Big Macs in the Euro Area Great Graphic:  Big Macs in the Euro Area Reviewed by Marc Chandler on February 06, 2013 Rating: 5
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Nervous Market: Key Developments

February 06, 2013
The market isbecoming a little skittish ahead of tomorrow’s ECB. Although the euro’s recovery off the $1.3460 low yesterday was impressive, follow through buying has not materialized.The spread between US and German short-term rates, that is doing a good job of tracking the euro-dollar exchange rate, has stabilized and correcting the sharp move a…
Nervous Market: Key Developments Nervous Market:  Key Developments Reviewed by Marc Chandler on February 06, 2013 Rating: 5
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