No need for Sergeant Friday yesterday, as US equities started their swoon fairly quickly after the new home sales data nudged ten year bonds towards the year's high yield at 4.90%. On balance, Macro Man viewed yesterday's data as fairly constructive for the US economy; the orders data was solid, and it can ultimately only be a good thing if homebuilders are finally taking the hit to clear inventory. (As an aside, the market seems to have ignored the 'taking a hit' part and focused mostly on the 'clearing inventory' angle.)
Perhaps the sergeant was in Asia today, where Chinese equities once again defied gravity (and other markets) to post a solid gain, while a blatant misprint of Japanese CPI on Reuters screens caused quite a bit of short term volatility. Either way, most major markets are where they were when Macro Man went to bed last night.
Today, Macro Man would like to switch gears a bit and become a bit self-referential (actually, a bit more self-referential, given his proclivity for referring to himself in the third person.) He has been writing this blog for more than eight months now, and has been pleased and gratified to see how interest (or at least readership) has grown.
He's had the pleasure of corresponding with a number of readers in the comment section, offline, and on other forums; he's even met a few readers in person. However, that hasn't really told him much about the nature of his readership.
He can glean an idea of where you come from (the chart below shows the geographical location of the last 100 visitors as of 9.15 this morning):
...and when you like to visit (this chart shows the visits by hour as on 10.30 London time last night- observe the peak around the US market opening):
..but that still doesn't tell him who you are. And by extension, what you find interesting. Discussions on Chinese reserve management? Technical analysis of the US equity market? The blog portfolio? Bad poetry? Macro Man is curious. He started writing the blog as a way of clarifying his own thoughts about markets, and he's been pleased with the results. But his native curiosity makes him wonder who is actually reading him.
He therefore begs you to indulge him and respond to the attached poll. Note that this is NOT a market research exercise. Macro Man isn't planning to sell ads or launch a market newletter or any similar commercial enterprise. You know (to some extent) who he is; now tell him who you are.
- ► 2015 (160)
- ► 2014 (167)
- ► 2013 (85)
- ► 2012 (119)
- ► 2011 (182)
- ► 2010 (213)
- ► 2009 (248)
- ► 2008 (276)
- Hang On, Sloopy
- China's favourite (non currency) band
- Five random cultural allusions
- Reminiscences of a Blog Operator
- Calling Joe Friday!
- Thoughts on volatility and a few trades
- Which of these things is not like the others?
- Monday morning poem
- China widens the band!
- How competitive are Chinese exporters?
- Ten reasons to be worried about risky assets
- Six interesting charts
- A handy sleeping aid
- Tuesday morning bullet points
- FX Carry: A SAFE haven
- A housekeeping note
- Foreign Exchange Powerball
- V-E Day
- A currency drama
- A remedial lesson in statistics
- A Bank Holiday Poem
- Is the worm turning?
- Plus ca change...
- Cornflakes Without the Milk
- April Post Mortem
- ▼ May (27)