Thursday, April 9, 2015

Economic News , Data and Views ( April 9 , 2015 ) - Morning Data Splash from Europe ( Various Industrial Production /Housing / Trade / GDP / CPI Data Sets ) ...... Greece Updates ( Greece pays IMF and Greece borrowing costs fall today , EWG gives Greece 6 working days to come up with sensible reforms , Data sets - Industrial production / unemployment / CPI , Creditor talks situation and behind the scenes items ) ....... Scenes from a bubble - charting China's red hot markets !

Additional items at blog tweet feed posted during the day.....



Tweets.....






Reuters: Officials said euro zone experts were not convinced the liquidity position was a dire as portrayed by Athens





Finnish govt memo says they're prepared for tough decisions re: + might run out of cash before end of June.





T minus 11 days... Greece expected to run out of cash by April 20th without new aid









Including today's non-competitive bids of €262.5 mln, rolled over €1.4 bln 6-mon T-Bills at 2.97% this week.





Greece....




Industrial Production Index +1.9% YoY in Feb from rev -0.2% in Jan and +0.9% in 2-month (ELSTAT).





Mar CPI -2.1% YoY (from -2.2% in Feb) and +2.4% MoM. 12-month trailing CPI -1.6% (ELSTAT).
4 retweets





pledged @ to table a new tax law mainly on VAT by Apr 21 4 reaching an agreement w/ lenders @ Apr 24 (via )




gave a 6-working-days ultimatum to to present proposals that would be accepted by lenders (via )








StateMin Flabouràris says if gov't hits liquidity wall, an emergency tax on the wealthy cannot be excluded. /via







unemployment rate January 25.7% (est 26.2%; rev prev 25.9%)







's borrowing costs tumble after payment. 3yr yields plunge by 65bps.











has made payment due to , BBG reports citing Greek Finance Ministry Official.













Confirmed: has forwarded €448ml repayment to .






| *FINNISH MINISTRY MEMO SHOWS GREEK EURO-EXIT OPTION: H. SANOMAT ...FINNISH FINANCE MINISTRY DECLINES TO CONFIRM MEMO EXISTS









Boom! RT Secret team pushed for Greek debt restructuring as early as 2010. Trichet said NON!!!






PM Tsipras in Moscow





Europe ....









Spain housing sales pick up a bit +12.3% ytd, but from a very low base.








*FRENCH GDP GREW 0.4% IN FIRST QUARTER, BANK OF FRANCE ESTIMATES -> up from 0.3% previously (official data due on 13 May)






UK trade deficit - increasing divergence between EU and non EU countries








German exports grew 1.7% Y/Y during the first two months of 2015 Eurozone -0.6% EU (non Eurozone) +4.9% Rest of World +2.1%






Germany's current account surplus surged 18.2% Y/Y in the first two months of 2015 to €32.5bn. Primary income account up 28%.





German industrial production fell 0.3% Y/Y in February ... economy not exactly booming







| MAR CPI M/M: 1.1% V 0.5% PRIOR; Y/Y: 0.4% V 0.1%






Dutch HICP inflation rate rose 0.2% to -0.3% Y/Y in March





| ITALIAN BANKS LOANS TO NON-FINANCIAL COMPANIES DOWN 3 PCT IN FEBRUARY AFTER 2.7 PCT DROP IN JANUARY - BANK OF ITALY




| BdF MAR BUSINESS SENTIMENT: 97 V 98E







| *DJ French Fin Min: Unemployment to Stabilize in 2015, Fall in 2016 ...get long Tippex





| FEB INDUSTRIAL PRODUCTION M/M: 0.2% V 0.1%E; Y/Y: -0.3% V 0.6%E







's mysterious comeback: Yield on 30yr Russian Dollar Bond plunges to 3.62%, lowest level since Jun2013.





Asia.....




For Yuan Short-Sellers, There’s One Big Reason to Drop the Trade: ’s IMF Ambitions.








Moody's ups 's outlk as polmakers established framework that will allow growth to outperform that of its peers





Stock mania spreads to Hong Kong. Hang Seng has outperformed MSCI EM by >20ppts.








HK's manic market: A trickle of money pouring into Hong Kong has turned into a flood.








US Dot-Com Bubble was nothing compared to today’s tech prices.







ICYMI: That Ain't No Margin Debt, THIS Is Margin Debt








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