Chillin' out till it needs to be funded
The Official PMI barely remained above 50, but the HSBC MarkIT PMI is already 48.1 indicating contraction in China Thought he contraction is more on lines of what was expected by China from the monetary tightening, Services PMI was still 54.1 in the HSBC MarkIT Survey. Also real estate prices continue to rise in Select Tier II towns
India on the other hand is still targeting inflation from monetary tightening with fiscal and policy commentary continuing to hope for the best growth possible and growth estimates are no wbeing revise din a hurry. Morgan Stanley team hat also manages the MSCI indices marked the GDP growth in 2013 down to 8% early on Monday even as markets in India and China rebounded after the debt deal. PM’s Economic Panel led by RBI governor C Rangarajan has recommended increase in Fixed Investment numbers to improve transmission of monetary policy and increase the prospects of growth
UK earlier reported a low 0.5% growth in GDP with Services PMI in all economies ranging optimistically between 54 to 58(Chicago)and retail consumption growing as a share of GDP
European Banks are set to report Armageddon this week with low double digits retail growth at StanChart and HSBC and profits cut by half at Lloyds, RBS and Barclays.
China is expected to continue raising rates for some time to come even as Yuan appreciation has topped off according to some, AUD and Swissie continuing the climb from January of this year The situation in Syria however may not bode well for Crude prices and may drive all monetary control to ground In Turkey, the hottest emerging market of last year a transition from the military leaders of yesterday to the civilian government is underway while Philippines and Indonesia may be watching conditions in Thailand and the island nation of Singapore but otherwise growth in these emerging markets is more than satisfactory