The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Friday, January 6, 2012

More positive economic data overnight

UBS comments (summary only):

* US: The nonmanufacturing ISM rose 0.6pts to 52.6 in Dec (cons 53.0) after trending down since Aug. Business activity was unchanged at 56.2, while new orders rose marginally to 53.2.

* US: ADP estimates that private payrolls rose a strong 325k in Dec.

* US: Jobless claims fell to 372k in the week fo Dec 31 (cons 375k, UBSe 385k) from a revised 387k (was 381k). The latest 4 week avg was 373k, down from 394k a month earlier and 401k two months earlier.

* UK: The services PMI rose well above expectations to 54.0 in Dec (mkt: 51.5), from 52.1.