Chicago, IL 3/2/12 (StreetBeat) -- Stocks were broadly higher in Asian trade. Shanghai was among the strongest with a gain of 1.4%, the Hang Seng rose 0.8%, the Nikkei added three quarters of a percent and Australia was up 0.4%. European indexes are mixed and little changed this morning; with the Dax off by 0.4% and the Footsie down a quarter percent. US stock futures are down a third to a half percent as I write.*The January reading of Japan’s Jobless Rate was up one tenth on the month to 4.6%, it had been expected to be 4.5%. But, Overall Household Spending down 2.3% on a year on year basis, more than twice the expected decline.
*The January reading of Japan’s Consumer Price Index, ex-fresh food, is -0.1% on a year on year basis, one tenth less deflation that forecast. The February reading of that same inflation measure for Tokyo is -0.3%, also one tenth less deflation than estimated.
*Euro area banks deposited a record amount at the ECB. Euro area banks were estimated to have netted EU314 billion of new cash from the LTRO this week. Overnight deposits at the ECB are said to have spiked EU300 billion the following day, a record amount. The LTRO funds cost 1%, the ECB deposits grab 0.25% interest.
*The EU leaders summit in Brussels has broken up with smiles all around and positive things being said about the Plan A for Greece; not even contemplating a need for Plan B. (I don’t think the Plan A that is being referenced is the one decided upon in May 2010, or March, July or October 2011; but will try to verify.)
*The Fed is scheduled to buy Treasuries today that are due to mature between 2/15/36 and 2/15/42; the results of the operation will be announced just after 10:00am CST.
*Chicago Fed’s Evans is supposed to do a TV interview 8:40am CST.
*St. Louis Fed boss Bullard is set to speak on the economy at 7:00pm CST in Vancouver.
StreetBeat Disclaimer
No comments:
Post a Comment