THE DAY AHEADFebruary 14
*Stocks were broadly higher throughout Asian trade. Shanghai was up more than two and a half percent; the Hang Seng, Nikkei and Australia all added more than one percent. European indexes are little changed on the day, with the Dax up almost 0.4%, but the Footsie off by about a quarter percent. US stock futures are essentially unchanged as I write.
*The January reading of China’s Trade Balance was, at +$6.46 billion, a smaller surplus than expected by about half. Exports were up 37.7% on the year, but Imports were 51% higher than a year ago.
*The Q4 reading of Japan’s GDP was slightly better than forecast, -0.3% on a quarter on quarter basis and -1.1% annualized. The annualized decline in GDP now makes it official that China has surpassed Japan as the second largest economy. China’s GDP is now at $5.88 trillion and Japan is at $5.47 trillion.
*The Wall Street Journal reports that the White House fiscal 2011 budget, released this morning, contains a deficit of $1.65 trillion and anticipates a 2012 deficit of $1.1 trillion.
*NY Fed boss Dudley is scheduled to speak today at 9:00am CST.
*The Fed is scheduled to buy TIPS today that are due to mature between 4/15/13 and 2/15/40; the results of the operation will be announced just after 10:00am CST.
*At some point today the Commerce Department will release their annual revision of the PPI data.
No comments:
Post a Comment