Market Currents
Markit eurozone manufacturing PMI 48.8 in January vs. flash reading of 48.7 and 46.9 in...
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Wednesday, February 1, 2012, 4:16 AM ETMarkit eurozone manufacturing PMI 48.8 in January vs. flash reading of 48.7 and 46.9 in December. There were signs of recovery in Germany (51) and Austria (51.8), where PMIs rose back into expansion territory, while contraction eased in Italy (46.8), Spain (45.1) and the Netherlands (49). (PR .pdf)
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Flash Germany Composite Output Index DECEMBER 2011 at 51.3 (49.4 in November), 4-month high.
It has dropped, how can that be seen as recovery?
Somebody numerically challenged, or what?
* December data pointed to a return to growth for the German private sector, following a slight decline in business activity during the previous month. At 51.3, up from 49.4 in November, the seasonally adjusted Markit Flash Germany Composite Output Index signalled a modest expansion of private sector business activity, (for Dec 2011).
However, a drop to 51 from a previous of 51.3 in Dec 2011, seen as recovery?
*Market currents need to be checked out better before posting.
I always try to stay fact based on this topic, out of fairness.
When you call them out on it in a meeting, they overdramatically, leave the room in a huff, red faced. Not a man among them, with enough integrity to say, " you know what?...you're right, our bad", just that alone would suffice. No way, not doing it.
I will be glad to see them leave the EU, and keep stepping. Their facade of bullsh*t is about to collapse soon anyway.
EU banks are puting pressure on regulators, to ease up on capital requirements, and liquid assets which can be quickly converted into cash, in defense of Market Correction 2.0. The flexibilty they want will cause volitility on loans made to these same EU banks from the repo market. The loans in the last 90 days alone have had little or in some cases, no colatteral at all. This will have a rippling effect on the repo market, as ANY instability causes panic, as we saw in August 2011, and how soon we all forget. Forget your 14-16% dividends, wake up.
When repo market goes sideways due to these smelly loans to EU banks, REIT's will go sideways. This will bump the mortgage costs up so high, it will make the last Mortgage Crisis pale in comparison. Freddie & Fannie are both in the toilet already, regards the agency backed mortgage securities. How many more warning signs are needed?
Everyone fell asleep at the wheel again.