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What is Mrs Watanabe Buying Now?

April 23, 2014
(from my colleagues Dr. Win Thin and Ilan Solot)

Weekly MOF data shows Japanese investors have been sellers of foreign bonds in 11 out of the 15 weeks reported so far this year. The total outflow from foreign bonds year to date has been -$53.5 bln, not an insignificant amount. And it’s not just foreign bonds. Japanese investors have sold foreig…
What is Mrs Watanabe Buying Now? What is Mrs Watanabe Buying Now? Reviewed by Marc Chandler on April 23, 2014 Rating: 5
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Great Graphic: Flash EZ PMI and GDP

April 23, 2014
The euro zone flash PMI composite reading rose to its best level since May 2011.  This Great Graphic from Markit, which compiles the data, shows how good it is at tracking the area's GDP. 
The euro area economy expanded by 0.1% in Q3 13 and 0.2% in Q4 13.  The composite PMI averaged 53.1 in Q1 after from 51.9 in Q4.  It would point to stronger …
Great Graphic: Flash EZ PMI and GDP Great Graphic: Flash EZ PMI and GDP Reviewed by Marc Chandler on April 23, 2014 Rating: 5
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EZ PMI Lifts Euro, Soft CPI Kicks Aussie

April 23, 2014
There are two important drivers in the foreign exchange market today.
First the euro area flash PMI was stronger than expected, and this helped lift the euro about half a cent and further cement its recovery from the dip to seven day lows yesterday. We did not think May was a particularly likely time frame for a new ECB initiative for several re…
EZ PMI Lifts Euro, Soft CPI Kicks Aussie EZ PMI Lifts Euro, Soft CPI Kicks Aussie Reviewed by Marc Chandler on April 23, 2014 Rating: 5
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Playing for Tomorrow

April 22, 2014
The euro had firmed as European participants returned from a long holiday weekend.  However, the market lacked much enthusiasm and the euro ran out of steam ahead of yesterday's high near $1.3830 and has come back off toward session lows as London prepares to close. 
The short-term market appears to be preparing for tomorrow.   Three reports a…
Playing for Tomorrow Playing for Tomorrow Reviewed by Marc Chandler on April 22, 2014 Rating: 5
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Moyes Noise and Signals from the Capital Markets

April 22, 2014
The dismissal of Manchester United’s manager is getting more attention than the global capital markets where trillions of dollars are exchanging hand every day. It is a testimony to the sociological representation in the capital markets, as well as to the absence of fresh incentives. In some ways, it is the perfect transition from the holiday mo…
Moyes Noise and Signals from the Capital Markets Moyes Noise and Signals from the Capital Markets Reviewed by Marc Chandler on April 22, 2014 Rating: 5
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