Friday, June 28, 2013

Morning Memo: Friday, June 28, 2013

  • Asia mostly higher heels of US strength, calming words from Fed governors yesterday, and less concern about imminent tapering by the Fed.
  • Nikkei up 3.5% on mixed economic data....household spending missed, CPI inline, and retail sales and ind prod missed.
  • China...PBoC official calms markets saying economy is now in check.  SHIBOR < 5%.
  • European data giving ground.
  • US Tsys had rallied overnight, but early hours saw selling, pushing 10s up in yield to 2.528% from 2.48% earlier.  Equity futures give up gains and turn negative.
  • Fed's Lacher 'doubts more stimulus effective'
  • Fed's Stein mentions September as possible tapering date
Please continue to visit Soos Global Market Musings for updates.
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