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  • Squawk / 31 minutes ago
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    The Bank of Spain released its Q1 GDP forecast yesterday. The central bank estimates that the Spanish economy grew 0.4% q/q in the first quarter, 0.1 percentage point higher than the current consensus estimate of 0.3%. The Bank of Spain is traditionally very good at estimating GDP growth.

    The central bank further notes that it expects private consumption to have risen in Q1, in which case it would be a fourth consecutive quarterly increase.

    Spain's Q1 GDP report will be released on April 30 at 07:00 GMT.
    Read the Squawk
  • Squawk / 2 hours ago
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    The broader Spanish economy may be recovering, but the housing sector remains in deep distress. Total mortgage lending was down 11.6% y/y in February (-25.8% in Jan.) while approvals dropped no less than 33% (-32.4% in Jan).
    Read the Squawk
  • Squawk / 2 hours ago
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    The rating company Standard & Poor's has cut Russia sovereign debt rating to BBB- from BBB, the last investment grade step before junk status, having had a negative outlook for a month.

    The geopolitical tension in Eastern Europe has seen some several countries (lead by the US) hit Russia with sanctions, and it seems there are more to come. S&P says "[the] tense geopolitical situation between Russia and Ukraine could see additional significant outflows of both foreign and domestic capital from the Russian economy and hence further undermine already weakening growth prospects".
    Read the Squawk
  • 4h
    Clare MacCarthy Clare MacCarthy
    I like your analogy with Moscow in the 90s, Juhani. But remember Nathan Rothschild making a killing on Waterloo? (Though that's arguably apocryphal...)
    2h
    DP DP
    “it is a bad idea to bet on an apocalypse – even if you win, you are unable to collect your winnings” -- especially liked this, LOL...
    38m
    Juhani Huopainen Juhani Huopainen
    Should I post my war story of the 1991 Moscow crisis? Damn I'm old.
  • Calendar event / Yesterday at 23:30 GMT

    JP CPI (Tokyo), CPI ex-Food (Tokyo)

    forecast
    actual
    Med CPI (Tokyo), CPI ex-Food (Tokyo)
    Med Tokyo Core CPI (on year)
    +2.8%
    +2.7%
    Med Tokyo Overall CPI (on year)
    +2.9%
    Med Tokyo Overall CPI (on month)
    +2%
  • Calendar event / Yesterday at 23:30 GMT
    Med CPI (Nation), CPI ex-food (Nation)
    Med Japan Core CPI (on year)
    +1.4%
    +1.3%
    Med Japan Overall CPI (on year)
    +1.6%
    Med Japan Overall CPI (on month)
    +0.3%
  • 18h
    kirand kirand
    its very good platform
    2h
    henry12 henry12
    This comment has been redacted
    2h
    United Overseas United Overseas
    The Best!)))
  • Squawk / Yesterday at 12:36 GMT
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    And now for the weak data: US initial jobless claims rose 329,000 last week vs. 315,000 expected while the prior figure was revised 1,000 higher to 305,000. Continuing claims dropped to 2.68 million from 2.751mn.
    Read the Squawk
  • Squawk / Yesterday at 12:34 GMT
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    Boom! US durable goods orders rose 2.6% m/m in March vs. 2% expected and 2.1% prior. Core orders (ex transportation) climbed 2% vs. 0.6% and 0.1% prior.
    Even more importantly for GDP capital goods shipments climbed 1% as expected while February was revised to 0.7% from 0.5%. And key to further (GDP) investment capital goods orders ex. defense and aircrafts jumped 2.2% vs. 1.5% expected while February was revised to -1.1% from -1.3%. Solid, solid report...
    Read the Squawk
    20h
    Ken Veksler Ken Veksler
    Surely a 2 way street, bad weather can only ever improve, right?
    20h
    fxtime fxtime
    LOL
    20h
    Mads Koefoed Mads Koefoed
    At least the spring holidays are getting blamed for the weak jobless claims print, so we do have some sort of normalcy around here...