Friday Morning Recap: Seeing a Lift Ahead of the Bell Following Positive Economic Data

HedgeFundLIVE.com – Morning Notes

- Global markets are mixed
- In China, CPI number came in at +5.4%, which is right in line with the leaked number from yesterday
- China GDP came in better than expectations, +9.7%
- Since numbers were leaked yesterday, limited reaction following the data releases in China
- Nikkei closed down 70bps, with weakness attributed to stronger yen
- In Europe, Ireland was downgraded two notches by Moody’s, causing yields on European peripheries to widen vs. German bunds- Portugal widened to a record +560bps
- Note that Fitch had raised its outlook on Ireland yesterday
- Reports out (quoting head of IMF and one ECB board member) that Greece may not need to restructure
- Eurozone CPI came in higher than expectations, +1.4% m/m, highest level in 2 years

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http://www.hedgefundlive.com/blog/friday-morning-recap-seeing-a-lift-ahead-of-the-bell-following-positive-economic-data

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