Succinct Summation of Week’s Events (4.1.11)

Succinct summation of week’s events:


1) Private sector payroll growth solid in March
2) ISM mfr’g solid but some key components moderate
3) Feb Pending Home Sales better than expected
4) Irish debt gets some relief as bank stress test in line with bailout cost estimates
5) Taiwan raises rates to join other Asian nations in fighting inflation
6) Yen at 3 1/2 month low providing breather to Japanese exporters (but cost of needed imports go up)


1) No wage growth as inflation pressures continue, WMT endorses that as fact
2) Case/Shiller HPI back to near the lows
3) Consumer Confidence at 4 mo low as 1 yr inflation expectations rise to 6.7%
4) Vice Chairman of Fed continues to drive monetary policy bus 250 mph on ever growing icy roads
5) China mfr’g bit below estimates, copper at 2 1/2 week low
6) Euro Zone CPI at 2.6%, most since Oct ’08
7) Portugal and Greek debt ever more toxic
8) 3yr, 5yr, 7yr Treasury auctions soft

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