Global Macro Monitor

Daily Risk Monitor – December 17

Posted on December 17, 2013 by macromon

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U.S. Sector ETF Performance – December 17

Posted on December 17, 2013 by macromon

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You’ve come a long way, China!

Posted on December 17, 2013 by macromon

Wow, this really hits home just how far China has come over the past four decades.

In their book Red Capitalism, the authors write that Deng Xiaoping led a large Chinese delegation in 1974 to a special session of the United Nations. Just before departing,

…the entire central government, so the story goes, made a frantic search through all the banks in Beijing for funds to pay for the trip. The cupboard was bare: they could scrape together only US$38,000. This was the first time a supreme leader of China, virtually the Last Emperor, had visited America; if he couldn’t afford first-class international travel, just where was the money to support China’s economic development to come from? – Red Capitalism

Less than forty years later the Chinese are landing on the moon. Stunning!

China’s first moon rover, Yutu, or Jade Rabbit, separated from the lander early on Sunday, several hours after the Chang’e-3 probe soft-landed on the lunar surface. –EuroNews

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Posted in China, Video | Tagged China, Jade Rabbit, Moon Landing | 1 Comment

Daily Risk Monitor – December 16

Posted on December 16, 2013 by macromon

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U.S. Sector ETF Performance – December 16

Posted on December 16, 2013 by macromon

ETF_Q4 (click here if charts are not observable)

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The Week Ahead – Minyanville

Posted on December 14, 2013 by macromon

Minyanville provides a great synopsis of the week ahead.

Next week the main event will be Wednesday’s FOMC meeting. Expectations that the Fed will cut back its asset purchase plan have changed — many believe the taper will be announced at next week’s meeting instead of in March, as had been anticipated. Additionally, it is expected that the Fed will strengthen its forward-guidance-policy tool by lowering the unemployment-rate threshold or adding other quantiative metrics to it.

The consumer price index will be released on Tuesday morning. Economists are expecting prices to accelerate to an annual rate of 1.3% in November from 1.0% in the prior month. Other notable economic reports scheduled for the coming week are September through November housing starts, existing home sales, and the final estimate of third-quarter US GDP.

In the coming week, the Bank of Japan will update its target for expanding the monetary base in 2014. Additionally, the Reserve Bank of India will issue its monthly monetary policy statement. Lastly, China and Europe will release preliminary estimates of December manufacturing activity.

FedEx (NYSE:FDX) will be the first company to report fourth-quarter earnings along with Oracle (NASDAQ:ORCL) and Nike (NYSE:NKE).