Monthly Archives: October 2012

Portugal passes fresh tax hikes

Posted on October 31, 2012 by macromon

Portugal’s parliament has passed the country’s largest tax hike package in decades. The changes form part of Prime Minister Pedro Passos Coelho’s new 2013 budget programme. Lisbon has to meet targets set by a 78-billion-euro bailout agreement with the EU … Continue reading →

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Quote of the Day: Hamburger Capital Management

Posted on October 31, 2012 by macromon

We know all about grinding up capital in a choppy market! High levels of cash continue to be my position in this current market. Don’t overtrade sloppy markets. – Dan Zanger,  on StockTwits,  Oct 31, 2012

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What to Expect When You’re Electing

Posted on October 31, 2012 by macromon

Interesting data on S&P500 returns during the last two months of a presidential election year. We looked at the last fifteen presidential elections beginning with the 1952 election of President Eisenhower.   With the exception of the swan elections of 2008, … Continue reading →

Posted in Politics | Tagged , | 1 Comment

Apple’s End-of-Month Window Dressing

Posted on October 30, 2012 by macromon

Interesting data on Apple’s end-of-month (eom) daily returns since the March 2009 crash bottom.  Our priors are that every PM and their mother would be buying Apple at the end the month to show they own it as the stock … Continue reading →

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Japan PMI falls to 46.9, 18-month low

Posted on October 30, 2012 by macromon

Markit’s press release on Japan’s October manufacturing PMI, Commenting on the Japanese Manufacturing PMI survey data, Paul Smith, Senior Economist at Markit and author of the report said: “The fall back in the headline PMI to an 18-month low during … Continue reading →

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Global Trend Indicators

Posted on October 29, 2012 by macromon

(click here if tables are not observable)

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Week in Review

Posted on October 29, 2012 by macromon

(click here if charts are not observable)

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Hugh Hendry and David Einhorn at the Buttonwood Gathering

Posted on October 26, 2012 by macromon

Spend some time over the weekend listening to Hugh Hendry and David Einhorn, who were participating in the Economist’s Buttonwood Gathering this week. Nice to hear from some non-cheerleaders.   Smart and provocative. Hendry is very bearish on the creditor nations … Continue reading →

Posted in Monetary Policy, Whales | Tagged , , , , , | 1 Comment

Weekly Eurozone Watch

Posted on October 26, 2012 by macromon

Key Data Points German 10-year Bund 6 bps lower; France 10-year 10 bps wider to the Bund; Italy  19 bps wider; Spain 28 bps wider; Belgium 11 bps wider; Portugal  56 bps wider; Ireland 6 bps wider; Greece 93 bps … Continue reading →

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Apple Misses, Guides Lower

Posted on October 25, 2012 by macromon

Apple comes in a little light at $8.67, up from $7.05 in fiscal Q4 2011.  The EPS missed estimates of $8.75.  The stock was  trading down about $10 in AH and did break $600 at one point, but coming back … Continue reading →

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