Chillin' out till it needs to be funded
The data everyone is happy on , the 348k Jobless claims, and we wouldn’t restart the debate on that but PPI rose only 0.1% M/M led by drops in Energy and Natural Gas ( Dare we point to another 127 tcf withdrawal in the EIA report after the 98 tcf last week) , Core PPI was healthy though at 0.4% , Core PPI up 3% on year and NSA(non adjusted) PPI 4.1% on year
The Moody’s toll meanwhile rose to 114 counting an endless chain of regional Spanish and Italian banks to a chunk of junk down 3-5 notches (Knight Report) You can get your William and Kate Dolls if not the iPad as it gets withdrawn from Amazon storefronts in China as well, the Mattel Willian and Kate Dolls due two months before the Queen’s Diamond Jubilee week stop. With all the Moody’s and Old Marge Cole action around, London will welcome the one week break in June 2012
A website of China Business News says authorities in the central city of Zhengzhou and eastern port of Qingdao seized iPads from retailers following seizures in Shijiazhuang and Xuzhou.
The Economic Observer newspaper said authorities in the eastern city of Weihai are investigating a complaint by Proview Technology that Apple is violating its rights to the iPad name.
Proview registered the iPad trademark in China in 2001. Apple bought rights to the name from a Proview affiliate. The mainland company says it still owns the name in China.
A court rejected Apple’s claim to the name in China last year.(ABC4- i know! but they’re right with the details)
The Philly Fed index however was bang on target at 10.2 ( beating expectations is much a part of the target, ja!) Philly Fed also taking the expected nosedive on expectations worth 16 points. Spanish auctions were strong but demand is slowing and a lot of new junk could take even LTRO fueled demand off as early as next week, Euro looking settled and unable to cross past 1.33 ( so, back to 1.19 again, eh!) DJ Eurostoxx Banks at 112 a whole 7 points behind the average at 119 after a 2.5% drop today, now this is the cliff, becoming more likely as we disregard the market need to slow down, Apple already having dropped $30 on the China Proview question
Also for the Economy this year with no more business on the cards after the Auto GM on a plateau are St Patty’s Hats, or themed Celtics and Chicago Bulls Jerseys, Groundhog Day and Valentines having ridden out wallets without new Tiffany’s purchases. At least Target got more sales than the folks in Sears Towers and Tiffany’s!