The Week That Was: April 22nd-26th 2013

Succinctly summarizing the positive and negative news, data, and market events of the week…


  1. Spanish spreads ignore reality, continue to compress
  2. March new home sales beat expectations (average prices plunge)
  3. Apple to ‘return’ billions to shareholders (and continue to avoid paying taxes)
  4. UK avoided a triple dip recession (for now)
  5. Gold begins to retrace its ugly plunge
  6. BTFD! Central banks admit they’re purchasing stocks – quite bullish for those trading on momentum & pretending it’s fundamentals
  7. Initial Jobless Claims beats expectations
  8. Oil surges most in five months
  9. EuroStoxx 600 surging (your textbook ‘all news is good news’ market hypothesis)
  10. SBUX hits Q2 estimates, (lowers Q3 guidance)
  11. UMich Consumer Sentiment beats expectations (but dropped and languishes at the same level as a year ago)



  1. Chinese & German PMI’s disappoint
  2. US Mint halts sales of gold bullion, as surging demand depletes inventory (negative for those who pretend paper gold is the same as physical)
  3. The tweet heard ’round the world — See one tweet make market liquidity completely disappear
  4. US business cycle index plunges most in 22 months, equities ignore
  5. There’s a slideshow for that: CNBC viewership surges plunges to eight year lows
  6. Unpossible: Countries ramp up fx reserve diversification (away from the USD)
  7. March durable goods numbers are hideous, equities love it
  8. Europe’s bank lending plummets
  9. Bundesbank rejects OMT (potentially ruining Draghi’s ESM party)
  10. The ‘fringe’ would like to know: What’s happening with JP Morgan’s gold?
  11. Syrian chemical weapons – ‘incursion’ imminent?
  12. Spain worst unemployment ever, slashes growth forecast and will miss deficit target
  13. US GDP misses expectations




(h/t @ZH_Crown)


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