• GoldCore
    07/30/2014 - 18:58
    “But long term...and economic law says, if you keep printing a lot of paper money, the value of the dollar and currency will go down, and things and most prices will go up and indeed gold always goes...

China, Japan, And Aussie Services PMIs Drop (but Markit/HSBC Baffles...)

Tyler Durden's picture




 

All around Asia, PMIs are tumbling. The last few days saw a number of nations' manufacturing PMIs drop with the notable miraculous surge in China (at 2014 highs). Tonight saw the Services PMI side also tumbling with Australia first (at 2014 lows) and Japan fade back to 49 for its 3rd month in contraction. But (unlike the manufacturing side) China 'official' Services PMI faded from its rebound (55 vs 55.5). The drop in Services PMI makes some sense given the 8-month lows in employment indices within the manufacturing PMIs... But then the baffle 'em with total bullshit brigade arrived as Markit/HSBC unveiled their version of Services PMI which jumped to 53.1 - its biggest MoM on record - makes perefect sense.

 

Every other PMI measure dropped... even China's official Services PMI... but HSBC/Markit soared by its most on record!!

 

Need moar made up data, stat!!!

Perhaps realizing how just over-zealously exuberanty this data was, Markit says...

Service sector firms were generally optimistic towards the 12-month business outlook in June.

 

That said, the degree of positive sentiment remained historically weak, despite improving upon May’s 11-month low

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Wed, 07/02/2014 - 22:29 | 4920103 knukles
knukles's picture

Don't worry, it's transitory, be happy
Or, everything's coming up chopsticks

Wed, 07/02/2014 - 22:44 | 4920126 Wild Theories
Wild Theories's picture

I think someone needs to point this out. Exporting manufacturing PMI picking up at around this time of the year in China is nothing fishy in itself, it ALWAYS picks up starting at around this time of year. It's one thing if you want to question the numbers, quite another if you are questioning the pick-up.

 

For export manufacturers like China, export manufacturing is always seasonal and cyclical.

It always picks up at around mid-year, and hums on until Oct-Nov right before Xmas, slumps in Nov-Mar, starts slow building up in April-June, then goes into high-gear again from Jul-Oct.

This cycle typically front-runs the retail season in the west by 1-3months(1-2 months shipping from China, up to 1 months stocking and on-shelf at local stores), which is heavily ladened towards latter half of the year up till Christmas.

In other words, if it didn't pick-up now it would mean retail season in the west(either US or Europe) will be weak in the latter half of the year.

 

Wed, 07/02/2014 - 23:27 | 4920254 Mitch Comestein
Mitch Comestein's picture

Maybe that is why the DBB looks to be breaking out (up) of a 5 year falling wedge pattern....The HSBC number is right!

Metals are starting a run.  What does is mean and why?

Thu, 07/03/2014 - 01:01 | 4920431 Yen Cross
Yen Cross's picture

 BTFD! Aud 10year is 100basis points over Cyprus.

 Australia is AAA rated! (I'm short aud bonds)

Thu, 07/03/2014 - 05:57 | 4920746 RadioactiveRant
RadioactiveRant's picture

The RBA is still positive, if you want/have to hold EUR you can't hold cash, so NIRP gives you get another twisted investment decision.

Obviously a country with a budget deficit of 5% and total debt thats 111% of GDP is a far better bet than one with a 3% deficit and public debt at 29%.

Thu, 07/03/2014 - 01:47 | 4920499 TWFTG
TWFTG's picture

"It is only Asian noise !! Move on , nothing to see here !

Check Dow soaring tomorrow in spite of any bad news !! "

Yellen .-

Thu, 07/03/2014 - 04:02 | 4920619 shhhh
shhhh's picture

cela n'a aucun sens du tout et il ne s'acquitte pas de ray ban solde ce qué la directive demande d' entreprise juin . "l' alliance pour solaire abordable energyafase , qui a fait campagne contre les politiques commerciales qui pourraient faire grimper le prix des composants du bureau verser l' industrie en aval , ray ban femme dit bureau tech qu'elle ne pouvait spéculer sur la polo manière dont la règle européenne cour .

 

http://www.ray-ban-soldes.com/

Thu, 07/03/2014 - 04:01 | 4920620 shhhh
shhhh's picture

cela n'a aucun sens du tout et il ne s'acquitte pas de ray ban solde ce qué la directive demande d' entreprise juin . "l' alliance pour solaire abordable energyafase , qui a fait campagne contre les politiques commerciales qui pourraient faire grimper le prix des composants du bureau verser l' industrie en aval , ray ban femme dit bureau tech qu'elle ne pouvait spéculer sur la polo manière dont la règle européenne cour .

 

http://www.ray-ban-soldes.com/

Thu, 07/03/2014 - 04:01 | 4920621 shhhh
shhhh's picture

cela n'a aucun sens du tout et il ne s'acquitte pas de ray ban solde ce qué la directive demande d' entreprise juin . "l' alliance pour solaire abordable energyafase , qui a fait campagne contre les politiques commerciales qui pourraient faire grimper le prix des composants du bureau verser l' industrie en aval , ray ban femme dit bureau tech qu'elle ne pouvait spéculer sur la polo manière dont la règle européenne cour .

 

http://www.ray-ban-soldes.com/

Thu, 07/03/2014 - 04:02 | 4920622 shhhh
shhhh's picture

cela n'a aucun sens du tout et il ne s'acquitte pas de ray ban solde ce qué la directive demande d' entreprise juin . "l' alliance pour solaire abordable energyafase , qui a fait campagne contre les politiques commerciales qui pourraient faire grimper le prix des composants du bureau verser l' industrie en aval , ray ban femme dit bureau tech qu'elle ne pouvait spéculer sur la polo manière dont la règle européenne cour .

 

http://www.ray-ban-soldes.com/

Thu, 07/03/2014 - 04:01 | 4920623 shhhh
shhhh's picture

cela n'a aucun sens du tout et il ne s'acquitte pas de ray ban solde ce qué la directive demande d' entreprise juin . "l' alliance pour solaire abordable energyafase , qui a fait campagne contre les politiques commerciales qui pourraient faire grimper le prix des composants du bureau verser l' industrie en aval , ray ban femme dit bureau tech qu'elle ne pouvait spéculer sur la polo manière dont la règle européenne cour .

 

http://www.ray-ban-soldes.com/

Thu, 07/03/2014 - 04:02 | 4920624 shhhh
shhhh's picture

cela n'a aucun sens du tout et il ne s'acquitte pas de ray ban solde ce qué la directive demande d' entreprise juin . "l' alliance pour solaire abordable energyafase , qui a fait campagne contre les politiques commerciales qui pourraient faire grimper le prix des composants du bureau verser l' industrie en aval , ray ban femme dit bureau tech qu'elle ne pouvait spéculer sur la polo manière dont la règle européenne cour .

 

http://www.ray-ban-soldes.com/

Thu, 07/03/2014 - 04:14 | 4920640 Yen Cross
Yen Cross's picture

 

00:55   EUR German Services PMI 54.6 54.8 54.8

 German macro disintegrating even deeper into the European experiment.

Thu, 07/03/2014 - 04:48 | 4920671 BigE
BigE's picture

Maybe the China PMI panel size is too small to be accurate? 

Low response numbers would create larger month-on-month variations in the headline PMI.

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