Monday, September 3, 2012

PMIs still not Clearing the All Clear level


·         China PMI hits 9 month low; bad for commodities; 49.2 v 50.1 in July and below 50 consensus 
·         Aussie consumer sentiment have weakened as well as retail sales 
·         Australian PMI rebounded to 45.3 but still in contraction, now 6 months below 50.
·         Aussie housing prices rose by 1.6% over last three months, but in August price was flat.

·         Guindos says full 100b of Spain's bank's bailout won't be used.