From the Desk of Lou Brien
- Stocks in Asia were generally higher. The Hang Seng was the strongest with a gain of 1.6%, the Nikkei rose 1.2%, Australia added a half percent and Shanghai was unchanged. Europe is mixed, the Dax is up a fraction and the Footsie down a half percent. US stock futures are a fraction higher as I write.
- There was a whole slew of data released in Japan overnight on the eve of the Golden Week holiday next week. The March reading of their Jobless Rate was up one tenth to 5.0%, it had been expected to remain at 4.9%; the March reading of the CPI ex fresh food is -1.2% on a year over year basis as forecast and the April reading of that price measure for Tokyo was down one tenth to -1.9% YOY, a larger decline had been expected; the preliminary March reading of Industrial Production is +0.3%, less than half the estimate. In addition the Bank of Japan met and left policy unchanged.
- European finance ministers will meet on Sunday May 2 to discuss Greece.
- The US Justice Department has opened a criminal investigation of Goldman Sachs over mortgage securities deals it arranged.
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