The Traderszone Network

PBOC injects 40bn yuan via 7-day reverse repos
For the week as a whole, a net injection of 20bn yuan (last week was a net injection of 70bn yuan)
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I posted earlier on Goldman’s fears surrounding this latest bout of CNY weakness against the USD:

Oil futures were little changed in early Asian trade Friday as a decline in U.S. oil inventories offset a non-eventful OPEC meeting.

Up 1% m/m after a 0.8% fall last month
On a y/y basis the index is down 11.7%
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In NZD terms +2.5% m/m and -3.5% y/y. 
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A small country with an open economy can benefit from a floating exchange rate. If its terms of trade fall (for example, the prices it gets for it exports declines due to a fall in the global dairy price like the case for NZ) declines in the currency can somewhat ‘cushion’ the decline in income.

The US Securities and Exchange Commission has laid charges against a ‘trader’ alleging:
– defrauding investors out of millions of dollars
– misrepresenting her investment track record
Solicited friends, family, former Harvard classmates, and others

Asian markets advanced Friday as markets awaited cues from U.S. jobs data on whether the Fed will pull the trigger in June.

• Rolling Over
  • Auto and trophy homes sales are softening
• BS From The BLS
  • Its statistics look increasingly falsified
• Rigged Elections, Rigged Markets
  • We’re living with both
• It’s All About The Debt
  • And the system can’t take too much mo

    read more

Wages data from Japan for April

Labor Cash earnings +0.3% y/y (higher for a 3rd consecutive month)
– expected +0.9% y/y, prior +1.5%
Real cash earnings, +0.6% (also 3rd straight rise)