Key data releases this week include: CPI (Tue), industrial production (Tue), FOMC minutes (Wed), leading economic indicators (Thu) and existing home sales (Fri).
May 13, 2016
Total retail sales & spending at restaurants increased 1.3% (3.0% y/y) during April following a 0.3% decline, unrevised from the preliminary report. The rise compared to expectations for a 0.8% improvement in the Action Economics Forecast Survey. The figures reflect annual revisions published late last month.
May 12, 2016
First-time applications for jobless benefits reached their highest level since February 2015 last week. Initial claims increased by 20,000 to a seasonally adjusted 294,000, the US Labor Department said. Economists offered conflicting explanations for the surge.
MLex (subscription required)
May 13, 2016
If housing prices in Britain keep rising, regulators may need to improve mortgage standards, the International Monetary Fund said. "Macroprudential policy will need to tighten later this year if housing and mortgage markets remain buoyant," the IMF said. Banking regulators need to establish rules for "buy-to-let" investors, the multinational fund said.
South China Morning Post
May 10, 2016
International Business Times
Monday, May 9, 2016
May 9, 2016
People's Daily
An article in the People's Daily, an official publication of China's ruling Communist Party, compared the use of increased leverage to stimulate growth to "growing a tree in the air." It said a high leverage ratio could bring about a financial crisis. China's economy will take on an L-shape trajectory, the article said.
May 16, 2016
Chinese steel futures fell more than 10% last week and are down about 25% from a peak in April, and there are signs the selloff is spreading to other global markets and other commodities. Additionally, Chinese credit data showed a sharper drop than expected in April in most lending categories.
May 9, 2016
Research suggests that the psychological and economic scars the recession inflicted on many American workers remain, seven years after the downturn ended. Almost 14 million people left jobless from 2007 to 2009 are still looking for work or hold part-time jobs because that's all they can find.
May 12, 2016
A majority of economists polled by Reuters said the Federal Reserve is unlikely to increase interest rates until September. There is a 60% chance the central bank will act by the end of September, they said.
Jeremy Grantham, GMO
May 11, 2016
The threshold for a bubble level for the U.S. market is about 2300 on the S&P 500, about 10% above current levels, and would normally require a substantially more bullish tone on the part of both individual and institutional investors.
May 11, 2016
Billionaire hedge fund manager Paul singer said that gold’s best quarter in 30 years is probably just the beginning of a rebound as global investors weigh the ramifications of unprecedented monetary easing on inflation. “Investors have increasingly started processing the fact that the world’s central bankers are completely focused on debasing their currencies.”


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