World economy talk

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Bad news around the globe. EU, US and Japan economy in a "rut" as they say. Then China economy losing steam, NoKor doing its antics to the max and this.

Boston blasts, China data rock US stocks | Inquirer Business

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Kasalanan ni PNoy...

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Apple supplier Cirrus Logic

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why CRUS dragged down AAPL

Supplier woes stir Apple demand fears, stock drops below $400 | Reuters

(Reuters) - Apple Inc's shares fell below $400 on Wednesday for the first time since December 2011 after a chip supplier's disappointing revenue forecast fanned fears about weakening demand for the iPhone and iPad as competition intensifies.

The stock dropped below $400 briefly before bouncing back to end 5.5 percent lower at $402.80, losing more than $22 billion of market value in a single day.

Cirrus Logic, which makes analog and audio chips for the iPhone and iPad, on Tuesday warned of a reduced product forecast from one customer - which it did not name. But 90 percent or more of its business comes from Apple, making it a key indicator of demand for iPhones and iPads.

The surprise warning fueled fears that demand for the iPhone - which makes up more than half of Apple's revenue - is falling faster than expected as Samsung Electronics and other rivals who use Google Inc's Android software flood the market with cheaper phones. Typically, many Apple fans also hold off on buying the gadgets if they believe a new model will be introduced in the next few months.

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Apple won't be releasing any new products 'til 2nd half of the year. And it's target market is more or less saturated already. It's continued high retaill price drive potential customers to cheaper rivals...

Some believe Apple will not be able to sustain its high gross margins as competition in the tablet and smartphone markets leads to lower prices. Shorter product cycles limit Apple's ability to bring down component costs, Bernstein Research analyst Toni Sacconaghi said in a note to clients.

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selloff in commodities

gold, oil

here's copper

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this morning...

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late last year a dollar can buy less than 80 yen

now a dollar can buy close to 100 yen

naturally this will happen....

Japanese Exports Exceed Estimates as Yen's Slide Aids Sales
Businessweek - ‎7 hours ago‎
Japan's exports exceeded estimates in March and the trade deficit narrowed from the previous month after declines in the yen made the nation's products more competitive in overseas markets. Overseas shipments rose 1.1 percent from a year earlier, the ...

US becomes Japan's largest export market
Globe and Mail - ‎4 hours ago‎
The customs figures released Thursday showed the U.S. edging ahead of China as Japan's largest export market as America-bound exports jumped 10.4 per cent from a year earlier to ¥11.4-trillion ($116.3-billion U.S.). Exports to China, a major export ...

UPDATE 1-Japan exports rise as weak yen helps; business mood up
Reuters - ‎14 hours ago‎
Exports +1.1 pct yr/yr in March vs +0.4 pct forecast. * Weak yen boosts corporate morale, still weighs on trade balance. By Tetsushi Kajimoto and Kaori Kaneko. TOKYO, April 18 (Reuters) - Japanese exports picked up in March from a year earlier, beating ...

US now Japan's number one export country
CNN International-12 hours ago
Figures for the full fiscal year to the end of March, also published on Thursday, showed that Japan's exports to China fell 9 per cent to Y11.3tn, ...

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US 10 yr yield

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Something's wrong with your excel data files.

Grad Student Who Shook Global Austerity Movement -- Daily Intelligencer

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that's really embarassing for Rogoff and Reinhart

also embarassing for policymakers who relied on Rogoff-Reinhart data to push for austerity

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BOJ governor Kuroda at the G20 meeting explaining the weak yen

BOJ's Kuroda: G20 understood Japan's policies to revive economy | Reuters

"I explained that monetary policy is focused on our 2 percent inflation target. I feel I got other countries' understanding,"

"My position is that the yen's decline may have resulted from our policies, but the aim of our policies is to escape deflation. Yen weakness is a byproduct."

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another try at 100

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^^^

still failing to hit 100

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the weak yen is bad for Germany

short DAX long Nikkei

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China manufacturing slows down

China PMI Figures Show Manufacturing Slows - WSJ.com

BEIJING—An initial gauge of manufacturing activity in China showed more weakness in the world's second-largest economy in April, after disappointing growth in the first quarter.

The HSBC HSBA.LN 0.00% "flash" China Manufacturing Purchasing Managers Index showed growth in April, but at a slower pace, with weakness particularly apparent in exports and jobs.

The preliminary measurement of manufacturing activity fell to 50.5 in April, compared with a final reading of 51.6 in March, barely in expansionary territory. A reading above 50 indicates growth, while a reading below 50 shows contraction.

that should pressure brent

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Analysts: Apple profits to fall this quarter, iPhone 5S to be delayed - GSMArena.com news

Analysts: Apple profits to fall this quarter, iPhone 5S to be delayed
22 April, 2013

Apple has been exceeding analysts’ expectations since 2003, but now the same analysts think the company’s profit will fall for the first time in a decade. Even worse, one Citibank analyst believes the iPhone 5S will be delayed, resulting in even more worry for Apple stockholders.

Analysts expect Apple’s quarterly report to show an 18% decline in net income with revenue growing by 8%. That would be the slowest growth rate Apple has seen since 2009.

More expensive components and lower-cost products like the iPad mini are eating into Apple’s margins. Demand is weakening too, with some estimates pointing to around 25 million iPhones sold, instead of 35 million or so like in the previous quarter. iPad mini demand is growing weaker too, leading analysts to believe there will be two mini's come upgrade time – a Retina and non-Retina model.

Foxconn is reportedly hurting too, as most of the manufacturing giant’s profits come from Apple and the weaker demand is hurting its revenue - rumors of all those returned iPhones can’t have helped either.

With all that said, Apple is still projected to report more profit than Google and Microsoft combined.

Still, there might be trouble in future quarters. Citibank’s analyst thinks the iPhone update, the 5S, and the potential lower-end iPhone will be delayed by a month or two (with August or September being the likely announcement dates), and that we won’t be seeing a new major version, the iPhone 6, this year.

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Germany manufacturing slows down

April PMI index points to German economy losing steam | Business News | DW.DE | 23.04.2013

A closely watched survey of purchasing managers in Germany has suggested Europe's biggest economy faces a downturn in the second quarter of 2013. It seems robust Germany will eventually succumb to the eurozone crisis.

Germany's Purchasing Managers' Index fell to 48.8 points in April from 50.6 points in the month before, marking the first decline in five months, according to data released by London-based Markit economic research group Tuesday.

the market now betting on a rate cut