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."

Thursday, February 16, 2012

More good economic data overnight

From UBS (excerpt):

* EU: Euro zone Q4 GDP was slightly above expectations at -0.3% q/q (+0.7% y/y) vs mkt: -0.4%, after +0.1% in Q3 (from +0.2%). German GDP fell -0.2% q/q (mkt: -0.3%), but the big surprise was France (+0.2% vs mkt -0.1%).

* EU: French monthly credit conditions survey improved again in Feb, up +4.4pts to -35.4 (from -47.0 in Dec). While the index remains low, it suggests a less severe credit crunch than we had expected.

* EU: Antonis Samaras, presumptive next PM of Greece, has sent a letter of commitment to the austerity measuers to EU leaders. However, FT reports that the EU will move forward on debt restructuring without immediately approving the E130bn bailout...

* US: The Empire State PMI rose to 19.5 in Feb from 13.5 in Jan...

* US: The housing market index (builders' confidence) moved up to 29 in Feb (cons & UBSe 26) from 25 in Jan, continuing the rise from a low of 14 in Sep...
at 7:49 AM