2. US pending home sales during July rose 0.5%, 7.2% yoy, following decreased -1.7% in June. Consensus was +1.0% monthly gain. Despite lower than expectation, home sales and construction indicators seem somewhat solid.
3. Weekly US initial jobless claims decreased to 217K, -8.9% yoy, from 277K in previous week. 4-week moving average recorded 272.5K lower than market expectation, 275K. Current labor market condition seems solid as well.
4. French INSEE business climate index maintained at previous month's leve, 103, in August. In details, the index about recent trend of productions is improving. It seems somewhat positive following German business sentiment index released yesterday.
Both of them maybe signal moderate recovery in Euro area economy.
5. China bond market wins as stocks fall ?
It could be one of evidences that Chinese condition is not in a financial crisis...
6. China eased regulations about investments in housing market against foreign investors...!
For now, the weight of foreigners in Chinese property market is only below 1%...
7. And China increased the limit of debt swap from LGFV to agency bonds to 3.2 trillion renminbi.
8. WTI rose more than 10%...to $42.56... spurred by bullish economic indicators?
9. Shares of CNOOC, the Chinese off-shore oil producer, rose 14% yesterday. It was partly led by a plan to raise the dividend ratio from usual 30% to 40%. But, is it sustainable? Analysts say break-even price of Brent crude for CNOOC would be 45 dollar per a barrel in 2nd half this year while the oil price has faced strong headwind.
And so, they have big problems? Brent oil price rose about 10% to $47.56 yesterday...
10. SHCOMP index rose +4.8% to 3,232pt !! Playing with positive cloud in weekly chart ?! If then, somewhat fast rebound could be continued further...!
11. Japanese core CPI yoy turned flat in July from 0.1% in previous month. But, it is higher than consensus of -0.1% declines.
Unemployment rate in July was down to 3.3% from 3.4% in previous month.
And retail sales in July increased 1.6% from a year earlier higher than 0.9% of last month's data and 1.0% of market expectation. It gained 1.2% monthly.
12. Not only in western developed countries including US and Euro area, but also in Japan, the forecast about economy is somewhat improved again. Worries about economic contraction seem to be diminished moderately.
But, local government bond yield maintained around yesterday's value...while Nikkei225 index soared by 3% today.
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