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Friday Morning Notes: Positive Tone Upon Strong GDP Figures

|Includes:IQ CPI Inflation Hedged ETF (CPI)

 HedgeFundLIVE.com – Morning Notes

- Positive tone in global markets
- One exception is the Nikkei, which closed down 70bps on news that a govt official insinuated that major banks may be asked to waive TEPCO’s debt
- Triple R hike in China yesterday did not have much of a negative effect on the Shanghai Comp and Hang Seng, which closed up 1% and 90bps, respectively
- Hong Kong raised GDP forecast to +5.6% from +4.5% after the Asian markets closed
- European bourses were all up (now mixed, however) with strength attributed to Germany and France GDP estimates, which came in much better than expected
- Commodities are strong this morning as well
- April Core CPI m/m: +0.2% vs. ++0.1%
- April CPI m/m: +0.4% vs. +0.4%; prior was +0.5%
- Preliminary May Michigan Sentiment out at 9:55a

Stocks: CPI