Tuesday, June 25, 2013

Morning Memo: Tuesday, June 25, 2013

Each morning, we'll post a short bullet-point list of noteworthy events, data, etc that find their way into the assessment of global markets.  It's far from complete and is not meant to be an exhaustive reconciliation of all things that could possibly impact stocks, bonds, currencies and commodities!  Rather, it's best viewed as a cryptic memo of "highlights", noteworthy items that took place in Asia, European and US hours.....and color-coded 'Red' for seemingly negative impact on equity markets, 'Green' for positive.

This will also serve as a useful review mechanism, as scrolling through the series of "Morning Memo" posts over time ought to summarily highlight what generally drove price action.  

We hope you find this useful and informative....and as always, that you'll share feedback!!

 Tuesday, June 25, 2013
  • China opens down 5%..rallies back to near unched on rumors that PBoC would restore calm to money markets.
  • PBoC...no action (explicitly).   But pledges support for cash-strapped banks.  "Will keep rates reasonable"
  • European markets generally higher.  Mixed data. Mkts breath sigh of relief on China.
  • Italy's PM reminds markets that  EZ crisis is not over.
  • US..Case-Shiller in April up 12.1%.  bte (better than expected). 
  • Durable Goods bte.  (very volatile series.  Heavily influenced by big-ticket items such as aircraft.) Ex-def and aircraft bte +1.1%.  Core capital goods +1.7%.
  • New Home Sales...jumps to 5yr high!
  • Consumer Confidence highest since '08!

Please continue to visit Soos Global Market Musings for updates.

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(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
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