Market Wrap

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04 April 2016

Market wrap
By Bidvest Bank
04-04-2016
US: The latest payrolls figures for Mar were on the strong side despite some mixed dynamics in the internals of the report. Headline payrolls growth remained stellar in excess of 200k with topside revisions to priors to boot. The unemployment rate paradoxically ticked up for the first time in nearly a year despite this, however ...
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29 March 2016

Market wrap
By Bidvest Bank
29-03-2016
US: The US data card was off to a characteristically mixed start to the week, but the most focus was on the sharp downside revision to Jan’s personal spending figure to 0.1% from 0.5% previously. The robust growth in the personal income figure was not revised, however, suggesting that as with retail sales figures there ...
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14 March 2016

Market wrap
By Bidvest Bank
14-03-2016
US: The US card was capped off with the low tier import and export prices release, with both the annual readings contracting for their eight and nine months respectively. On the import price side, deflation remains an oil-dominated story with the ex-petroleum figure virtually flat while oil plunged another 4%. A subsequent stabilization and rebound ...
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07 March 2016

Market wrap
By Bidvest Bank
07-03-2016
US: Labour market indicators continue showing no signs of distress in the US with the latest payrolls figure in fact blowing out expectations with a 242k print and topside revisions to boot. Private payrolls growth likewise exceed 200k in spite of one of the deepest contractions in manufacturing sector employment in the post-crisis era. This ...
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29 February 2016

Market wrap
By Bidvest Bank
29-02-2016
US: The US data card ended last week on an even stronger basis in terms of consumptive and inflation gauges. Personal income was up sharply as presaged by the strong payrolls figures of late, but of more note was personal consumption growing at the fastest rate in 8 months. With the industrial and trade sectors ...
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22 February 2016

Market wrap
By Bidvest Bank
22-02-2016
US: The US data card was capped off last week with the latest consumer inflation figures for Jan. A big jump on the headline annual reading transpired, from 0.7% to a new 1-year high of 1.4%, driven by more favourable base effects coming into play. Core CPI had already shown the way higher in this ...
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15 February 2016

Market wrap
By Bidvest Bank
15-02-2016
US: The main data release for last week in the form of retail sales was broadly strong with solid beats to headline and core readings. In fact the strong performance on the GDP-inputted control group figure prompted the Atlanta Fed to revise its Q1 GDP tracking estimate up to 2.7% from 2.5%, now well-above Street ...
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08 February 2016

Market wrap
By Bidvest Bank
08-02-2016
US: The first payrolls report for 2016 was a mixed affair, characteristic of US outcomes over recent months. Headline payrolls missed expectations of 190k sharply at 151k with downside revisions to the lofty priors, however the impact of this figure on policy has been severely diminished since several FOMC members have noted their comfort with ...
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01 February 2016

Market wrap
By Bidvest Bank
01-02-2016
US: GDP for 2015 capped off the year with just 1.8% annual growth, the lowest since 2011 and missing Fed expectations for more than 2.0%. Q4 q/q annualized was just 0.7%, missing the Atlanta Fed’s 1.0% estimate. The softness of this outcome comes as no surprise given the offshore and energy sector headwinds. Aggregate growth ...
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25 January 2016

Market wrap
By Bidvest Bank
25-01-2016
US: The US data card was a mixed affair on Friday, but featured strong headline readings on the major figures of December existing home sales and the January Markit manufacturing PMI. The former saw a sharp rebound on sales from an anomalous slump in November. An uptick on the manufacturing PMI was perhaps more notable ...
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