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The Week That Was: April 22nd-26th 2013

Submitted by Tyler Durden on 04/26/2013 17:02 -0400

Succinctly summarizing the positive and negative news, data, and market events of the week...

Positives

Spanish spreads ignore reality, continue to compress
March new home sales beat expectations (average prices plunge)
Apple to 'return' billions to shareholders (and continue to avoid paying taxes)
UK avoided a triple dip recession (for now)
Gold begins to retrace its ugly plunge
BTFD! Central banks admit they're purchasing stocks – quite bullish for those trading on momentum & pretending it's fundamentals
Initial Jobless Claims beats expectations
Oil surges most in five months
EuroStoxx 600 surging (your textbook 'all news is good news' market hypothesis)
SBUX hits Q2 estimates, (lowers Q3 guidance)
UMich Consumer Sentiment beats expectations (but dropped and languishes at the same level as a year ago)

Negatives

Chinese & German PMI's disappoint
US Mint halts sales of gold bullion, as surging demand depletes inventory (negative for those who pretend paper gold is the same as physical)
The tweet heard 'round the world -- See one tweet make market liquidity completely disappear
US business cycle index plunges most in 22 months, equities ignore
There's a slideshow for that: CNBC viewership surges plunges to eight year lows
Unpossible: Countries ramp up fx reserve diversification (away from the USD)
March durable goods numbers are hideous, equities love it
Europe’s bank lending plummets
Bundesbank rejects OMT (potentially ruining Draghi’s ESM party)
The ‘fringe’ would like to know: What's happening with JP Morgan's gold?
Syrian chemical weapons – ‘incursion’ imminent?
Spain worst unemployment ever, slashes growth forecast and will miss deficit target
US GDP misses expectations