Morning Memo: Tuesday, July 16, 2013

"Morning Memo" begins below this "NOTE for  NEWCOMERS" to "Morning Memo"...... Each morning, we 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!!

• Asian stocks mostly higher on heels of yesterday's Citigroup strong earnings.
• India....RBI announces tightening measures on  banks as a way to deal w/the weakening Rupee which has made imports more expensive and raised inflation concerns.  Results?  Rupee up.   Stocks down.
• Spain....political scandal risk grows.  Testimony re illegal payments to politicians creeping closer to the PM with some calling for him to resign.
• Brazil...on the heels of recent protests over hikes in transportation costs, the gov't is investigating several large global engineering and services companies for violations of anti-trust rules related to their business in the Brazilian transport sector (eg: Siemens, Bombardier, Mitsui and others).
• Europe...new car sales fall to 17-yr low!
• Germany..ZEW Economic Sentiment Indicator wte (worse than expected)!
• Greece....protests and strikes persist against austerity measures.
• Argentina....wants your money.  Have $1bn to invest over five years in the energy sector? If you do they'll allow you to export 20% oil and gas tax-free.  
• McDonalds (MCD)...bringing the Big Mac to Vietnam.
• Bernanke...reminder....Wednesday testimony in front of Congress.
• CPI wte @ 0.5% vs 0.3% exp. largely due to energy pxe hikes. Core (ex food & energy) inline @ 0.2%.   Ind Prod inline.
• NAHB Housing Market Index much bte (better than expected)!!
• more later...

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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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Additional Disclaimer: currently long many stocks/ETFs, including MCD.  Positions may change at any time without notice.