Economic Events

China CPI

M/M % Change	Prior 0.1	Est	Actual 0.1 %
Y/Y % Change	5.3	5.5 %	5.5 %

http://english.people.com.cn/90001/90778/90862/7409504.html

China Industrial Production

M/M % Change	0.9		1.03
Yr/Yr % change	13.4 %	13.2 %	13.3 %

China PPI

M/M % Change	1.0		0.3
Y/Y % Change	6.8	6.45	6.8

China Retail Sales

M/M % Change	1.4 %		1.28
Y/Y % Change	17.1 %	16.95	16.9

USA PPI

PPI - M/M change	0.8 %	0.1 %	-0.4 % to 0.3 %	0.2 %
PPI -Yr/Yr change	6.6 %			7.0 %
PPI less food & energy - M/M change	0.3 %	0.2 %	0.0 % to 0.3 %	0.2 %
PPI less food & energy - Yr/Yr change	2.1 %			2.1 %

USA Retail Sales

Retail Sales - M/M change	0.5 %	0.3 %	-0.3 %	-1.3 % to 0.0 %	-0.2 %
Sales less autos - M/M change	0.6 %	0.5 %	0.3 %	-0.4 % to 0.5 %	0.3 %

USA Business Inventories

Inventories - M/M change

1.0 %

1.3 %

0.9 %

0.7 % to 1.0 %

0.8 %

Speech by Federal Reserve Chairman

Market Data

Indices+1.47%

RJ+2.03% EW+1.76% ES+1.30% NQ+1.26% YM+1.03% 

U.S. stocks post best day for June on retail sales

Metals+0.95%           

HG+3.06% SI+2.21%            GC+0.66% PL-0.49% PA-0.66%     

 Copper Prices Rebound on China Outlook

Softs+0.66%

CT+3.04% OJ+1.53% KC+0.67% CC+0.43% LB unch SG-1.72%

Energies+0.42%

RB+2.00% CL+1.92% HO+0.49% ZK-0.97% NG-1.40%  

Former US energy chiefs say EIA budget cuts to increase price volatility

Currencies+0.08%

CD +0.79% AD+0.54% MP+0.51% EC+0.27% BP-0.01% USD-0.15% JY-0.32% SF-0.87%

China figures bolster Aussie

Financials-0.62%

ED-0.01% ZT-0.08% ZF-0.39% ZN -0.62% ZB -1.17%

Treasuries Tumble on Retail Report; 10-Year Note Yield Increases to 3.10%

Grains-1.93%

BO+0.05% S-1.07% RS-1.07% W-1.58% RR-1.88% SM-3.08% O-3.37% C-3.45%

Farm markets fall hard

CPI rises 5.3% in April, inflation lingers

 Consumer Price Index Prev             Est                     Act

M/M % Change	-0.2		0.1
Y/Y % Change	5.4	5.1	5.3

Industrial Production   Prev                        Est                   Act

M/M % Change			0.9
Yr/Yr % change	14.8 %	14.6 %	13.4 %

Producer Price Index Prev             Est                     Act

M/M % Change	0.6		1.0
Y/Y % Change	7.3	7.0	6.8

Retail Sales 

                                   Prev             Est                    Act

M/M % Change	1.3		1.4 %
Y/Y % Change	17.4	17.5 %	17.1 %

http://news.yahoo.com/s/nm/20110511/bs_nm/us_china_economy_inflation;_ylt=Ap4HOVQV8hOrnVSiRjvJcLCyBhIF;_ylu=X3oDMTJyNGx2ZGQ3BGFzc2V0A25tLzIwMTEwNTExL3VzX2NoaW5hX2Vjb25vbXlfaW5mbGF0aW9uBGNwb3MDMgRwb3MDNgRzZWMDeW5fdG9wX3N0b3J5BHNsawNjaGluYTM5c2Fwcmk-

http://english.people.com.cn/90001/90778/90862/7376463.html

Economic Reports

Producer Price Index

PPI - M/M change	Prior 1.6 %	Est 1.0 %	Range 0.4 % to 1.6 %	Act 0.7 %
PPI less food & energy - M/M change	0.2 %	0.2 %	0.1 % to 0.4 %	0.3 %

Jobless Claims

New Claims - Level	Prior 382 K	Revised 385 K	Est 380 K	Range 375 K to 385 K	Act 412 K
4-week Moving Average - Level	389.50 K	390.25 K			395.75 K

EIA Natural Gas Report  http://ir.eia.gov/ngs/ngs.html

EIA Natural Gas Storage Data

Total (04/08/11): 1,607 Bcf 

Total (04/01/11): 1,579 Bcf 

Change: 28 Bcf 

Year ago stocks: 1,744 Bcf

% diff to yr ago: -7.9 % 

5-year avg stocks: 1,597 Bcf

% dif to 5-yr avg: 0.6 % 

 Market Activity

Metals +1.66%

SI+4.65% GC+1.33% PL+1.20% PA+1.01% HG+0.22%

http://www.marketwatch.com/story/radical-gold-bugs-keep-confidence-2011-04-14?dist=afterbell

Energies +0.48

NG+2.03% CL+1.20%  RB unch HO-0.08% Ethanol -0.71%

http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8795061

http://www.bloomberg.com/news/2011-04-14/oil-advances-as-sunoco-refinery-unit-shut-u-s-gasoline-supplies-tumble.html

Currencies+0.34%

MP+0.50% AD+0.47% JY+0.45% BP+0.44% SF+0.39% EC+0.35% CD+0.29% USD-0.39%

http://www.bloomberg.com/news/2011-04-14/bullish-peso-bets-jump-35-to-5-billion-as-exports-climb-mexico-credit.html

Indices+0.22% CRB+0.28 VIX -0.98%

RJ+0.58% YM+0.29% ES+0.15% EW+0.13% NQ-0.19%

Softs-0.08%

CC+1.92% OJ+1.64% KC+0.61% CT-0.66% SB-1.41% LB-2.59%

http://www.bloomberg.com/news/2011-04-14/sugar-falls-caps-longest-slump-since-may-cocoa-coffee-rise.html

Financials -0.09%

ED-0.01% TU-0.06% FV-0.20% US-0.21% TY-0.24%

Grains-0.51%

RR+0.29% SM+0.09%  C-0.17% S-0.19%    RS-0.38% BO-0.85% O-1.23% W-1.63%

http://www.fas.usda.gov/export-sales/highlite.htm

03.16.11 Review

Economic Data

#1) MBA Purchase Application

Purchase Index - W/W Change	Prev 12.5 %	Act       -4.0 %
Refinance Index - W/W Change	17.2 %	0.9 %
Composite Index - W/W Change	15.5 %	-0.7 %

Homes sales were not able to keep up last week’s pace, although refinancing activity increased due to lower interest rates. The average 30 yr rate fell to 4.79% a 2 month low.

Housing Starts

Starts - Level - SAAR	Prev 0.596 M	Rev 0.618 M	Est 0.560 M	Range 0.540 M to 0.590 M	Act 0.479 M
Permits - Level - SAAR	0.562 M				0.517 M

Starts in both multi-family and single-family home.

The decline was seen in all regions

PPI

PPI - M/M change	Prev 0.8 %	Rev 0.7 %	Range 0.3 % to 1.1 %	Act 1.6 %
PPI -Yr/Yr change				5.8 %
PPI less food & energy - M/M change	0.5 %	0.2 %	0.1 % to 0.4 %	0.2 %
PPI less food & energy - Yr/Yr change				1.9 %

Both food and energy costs continue rack up healthy gains.

ABC News Report on Food Prices

Current Account

Current Account

Prev $-127.2 B

Rev $-125.5 B

Act $-113.3 B

The deficit relative to GDP for the 4^Q10 fell to 3.1% from 3.4% in 3^Q10.

Weekly Petroleum report View Summary Here

Oil and petroleum inventories remain above their average for this time of year. Gasoline and distillate inventories declined more than expected. Product demand remains above year-ago levels:

Gasoline +1.4% Distillates +3.8% Jet Fuel +4.5%

Market Activity

Financials +0.63%

T-Bond +1.13%  10-Yr +0.86% 5-Yr +0.52% 2-Yr -.13% E$ -0.02%

Bloomberg.com of Interest Rates

Energies +0.54%

RB +1.73%         HO+1.69% CL+1.20% NG +0.15% Ethanol -2.05%

CMEGroup Energy report

Metals +0.21%

HG +1.27% SI +0.45% GC +0.31%   PL -0.50%          PA -0.97%

Currencies -0.20%

JY +1.37% SF +1.02% U.S. $ +0.33% BP -0.43% EC -0.66% A$ -0.79% C$ -0.94% MP -1.27%

Reuters on the Yen

Grains -0.42%

Beans +1.34% SM +1.09% BO +0.15% W-0.86% RR-0.89% O -2.78% C -3.07%

Bloomberg.com on Corn

Softs -0.60%

SB +0.78% LB +0.53% KC +0.44% OJ -0.99% CC -1.17% CT -3.05%

Indices -0.85%

VIX +6.2% Midcap -0.80% Russell -0.85% ES -1.71% NQ -1.82% DOW -1.91%

Chart Source: Barchart.com

Chart Source: Barchart.com

03.11.11 Final Report

Price Movements

Silver +2.48% Platinum +0.91% Gold +0.66%  Copper +0.24% Palladium -0.12%

Safe haven buying resurfaced in the PMG and copper saw some technical short covering.

Mini Nasdaq +0.97%  Mini S&P +0.91% Midcap DJIA Mini-+0.68%  Russell Mini +0.43%

Oil refiners and material companies rose on the theory that these sectors will benefit Japanese efforts to rebuild after Friday’s 8.9 earthquake .

AD+1.42% JY +1.39% EC +0.68% MP+0.48$ SF+0.27% CD+0.25% BP+0.14% USD -0.65%

5-Year +0.07% 10-Year +0.05% 2-Year +0.04% E$+0.01% T-Bond -0.03%

CT +1.97% Sugar #11 +0.52%  Cocoa -0.96% OJ-1.35% Coffee -2.19%

NG +1.54% HOil -0.52% RBOB -1.06%  WTI -1.50% Ethanol -2.31%

Natural gas remains in a tight range. The petroleum complex sold off on worries the earthquake may weaken the global recovery and weaken demand.

Rice -0.31% Meal -1.05% Oats -1.54% Beans -1.55% B Oil -1.81% Corn -2.71%  Wheat -2.94%

Grain sold off on worries about damage to Japanese ports and its effect on grain shipments. Japan is a major buyer of US bean, corn, rice and wheat.

CFTC Reports

Combined (F + O) Commodity COT Report (Click Here)

Combined (F +O) Financials COT Report (Click Here)

Economic News

China: CPI
Y/Y % Change Prior 4.9 % Est 4.8 Act 4.9
Food prices +11.0% Non-food +2.3%

China: Industrial Production
 Yr/Yr % change Prior 13.5 % Est 13.1 % Act 14.9 %

China: PPI
Y/Y % Change Prior 6.6 % Est 7.0 Act 7.2
M /M % change was +0.8% vs +0.9% prev

China: Retail Sales
Y/Y % Change Prior 19.1 Est 19.0 Act 11.6
Well below expectations

US Retail Sales

Retail Sales- M/M change Prev 0.3 % Rev 0.7 % Est 1.0 % Range 0.1 % to 1.5 % Act 1.0 %
less autos- M/M change  Prev 0.3 % Rev 0.6 % Est 0.7 % Range 0.3 % to 1.3 % Act 0.7 %

Auto sales and higher energy prices accounted for much of the gain



US Consumer Confidence

Sentiment Index - Level Prior 77.5 Rev 76.5 Range 74.8 to 80.0 Act 68.2

Increasing oil prices are beginning to cause concern with consumers. The normally stable inflation expectation component jumped to 4.6% one year out. And the five year out reading is now at 3.2%



US Business Inventories

Inventories - M/M change Prior 0.8 % Est 0.8 % Range 0.6 % to 0.9 % Act 0.9 %