Daily
Market Color
05/24/2013
Economic
Reports & Headlines
Germany’s first quarter GDP was
in line with economists’ consensus on a quarter over quarter basis by rising
10bps.
On the domestic front Durable goods
orders in the US increased more than expected, 3.3% Vs 1.1%.
The Nikkei 225 fell over 10% in
the last two trading sessions.
Future
Reports
Over the weekend the BOJ will
release minutes for Aprils monetary policy meeting.
Monday markets will be closed for
Memorial day.
Trade
US stocks and Japanese stocks are
falling in light of a poor flash PMI reading in China. I see the sell-off as a
correction. Economic reports from the US continue to beat consensus. Over in
Japan, financial publications are paying more attention to the volatility in
Japanese government bond prices. The decline in JGB prices is concerning many
market participants according to a report from Bloomberg.
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