Traders Market Weekly: Yield Inversion Therapy Kill Growth To Kill Inflation

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    China’s March Caixin Manufacturing PMI 48.1 (expected 50.0; last 50.4)
    Japan’s Q1 Tankan Large Manufacturers Index 14 (expected 12; last 17) and Large Non-Manufacturers Index 9 (expected 5; last 10). Q1 Tankan All Big Industry Capex 2.2% (expected 4.0%; last 9.3%). March Manufacturing PMI 54.1 (expected 53.2; last 52.7)
    South Korea’s March trade deficit $140 mln (last surplus of $830 mln). March Imports 27.9% yr/yr (expected 27.8%; last 25.2%) and Exports 18.2% yr/yr (expected 17.5%; last 20.6%). March Nikkei Manufacturing PMI 51.2 (last 53.8)
    Australia’s March Manufacturing PMI 57.7 (expected 57.3; last 57.0) and AIG Manufacturing Index 55.7 (last 53.2). February Home Loans -4.7% m/m (last 1.0%). March Commodity Prices 40.9% yr/yr (last 16.7%)
    Singapore’s Q4 URA Property Index 0.4% qtr/qtr (last 1.1%)


    Japan’s Manufacturing PMI remained in expansionary territory for the 14th consecutive month while South Korea’s Manufacturing PMI indicated expansion for the 18th month in a row.
    China’s Caixin Manufacturing PMI fell into contraction for the first time since January.
    A former Japanese currency official warned that the recent rapid depreciation in the yen is a negative since it reflects waning competitiveness.


    Major European indices are tracking a higher finish to the week.

    STOXX Europe 600: +0.6% (+1.2% week-to-date)
    Germany’s DAX: +0.4% (+1.2% week-to-date)
    U.K.’s FTSE 100: +0.2% (+0.7% week-to-date)
    France’s CAC 40: +0.6% (+2.2% week-to-date)
    Italy’s FTSE MIB: +0.9% (+2.8% week-to-date)
    Spain’s IBEX 35: +0.9% (+2.3% week-to-date).


    Eurozone’s flash March CPI 2.5% m/m (last 0.9%); 7.5% yr/yr (expected 6.6%; last 5.9%). March Core CPI 2.5% m/m (last 0.9%); 3.0% yr/yr (expected 3.1%; last 2.7%). March Manufacturing PMI 56.5 (expected 57.0; last 58.2)
    Germany’s March Manufacturing PMI 56.9 (expected 57.6; last 57.6)
    France’s March Manufacturing PMI 54.7 (expected 54.8; last 54.8). February budget deficit EUR37.60 bln (last deficit of EUR15.90 bln)
    Italy’s March Manufacturing PMI 55.8 (expected 57.0; last 58.3)
    Spain’s March Manufacturing PMI 54.2 (expected 55.5; last 56.9)
    Swiss March CPI 0.6% m/m (expected 0.5%; last 0.7%); 2.4% yr/yr, as expected (last 2.2%). March PMI 64.0 (expected 60.5; last 62.6)


    Eurozone’s yr/yr CPI rate accelerated to a fresh record of 7.5% in the flash reading for March.
    BASF CEO warned that putting an immediate halt to imports of natural gas from Russia would cause many small and medium-sized companies to go bankrupt.
    Gas continued flowing to Europe today despite the passing of a deadline that requires buyers to pay in rubles.


    The employment report has fed into expectations for a 50-basis-point hike next month. To wit, the CME FedWatch Tool is currently assigning a 75.5% probability for a 50-bps hike at the May meeting, versus 69.4% yesterday.

    The Treasury market has reacted negatively, pushing yields higher in a re-inversion trade. The 2-yr yield is up 15 basis points to 2.43%, and the 10-yr yield is up nine basis points to 2.42%.


    MOTHER OF ALL REPORTS — U.S. economy gains 431,000 jobs in March and wages rise sharply again. Unemployment rate falls to 3.6%.


    as the bond YIELD curve inverts pointing to possible RECESSION


    April 3-9 2022 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Image: Accept o
    [See the full post at: Traders Market Weekly: Yield Inversion Therapy Kill Growth To Kill Inflation]

    • This topic was modified 8 months, 2 weeks ago by TradersCom.
    • This topic was modified 8 months, 2 weeks ago by CautiousInvestor.
    • This topic was modified 8 months, 1 week ago by TradersCom.
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