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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC Capital... More
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  • Wednesday Morning Recap: PMI, ADP Data Disappoint  0 comments
    Jun 1, 2011 9:29 AM

     HedgeFundLIVE.com – Morning Notes

    - Global markets are down small
    - China Manufacturing PMI came in better than expectations, 52.0, but was at the lowest level it has been in nine months, showing that its economy is slowing
    - PMI data out for France, Germany, and UK as well- all came in worse than expected
    - Nikkei is the exception as it closed in the green, up 30bps
    - Relative strength in Japan attributed to BOJ official’s comments that supply restraints are easing faster than anticipated
    - Australia GDP saw its steepest decline in 20 years, -1.2%, worse than the already low consensus figure
    - Commodities are generally down as well
    - MBA Mortgage Idx fell 4%
    - May ADP Employment Change: 38K vs. 175K
    - Futures sell off on disappointing ADP number
    - Treasuries and gold spiked (went green) while dollar weakened following ADP data release
    - Left on economic calendar for today: May ISM Manufacturing Index at 10a; April Construction Spending at 10a

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