Econ data: 09 week 19
Overall
- 10 US Banks was being forced to rise capital, inline with expectation. However, to me, lots bank such as Wells Fargo do not really need any additional capital at all;
- Toyota release 09 result, sales down 22.8% and with a net loss of Yen 436.9B, the largest loss since 1937. Apr Auto sales seems to have signal to recover, Toyota is down 3% in NYSE;
House market
- US Mar pending home sales up 3.2% from 2.0% in Feb, (better than expect, 0.0%)
- US Mar construction spending up 0.3% from -1.0% in Feb, (better, -1.6%)
- Huge improve from last month, need to see May & Jun trend to confirm whether the economy has already hit the bottom and start recoving;
Job market
- US Apr nonfarmer job pos down -539k from -699k in Mar, (better, -600k)
- US Apr unemployment rate up to 8.9% from 8.5% in Mar, (same, 8.9%)
- US 05/02 initital jobless claims down to 601k from 635k last week, (better, 635k)
Retail market
- US Apr IMS Services up to 43.7 from 40.8 in Mar, (better, 42.2). Still below 50 even we see improvement;
- US 1q09 productivity up +0.8% from down -0.6% in 4q08, (better, +0.6%)
Others
- Canada Apr non-farmer job pos up +36k, (better, -50k). Increase mainly on self-employ pos, so it doesn't really reflect an improvement in job market;
- Canada Apr unemployement rate keep at 8.0%, same as Mar, better than expect;
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