The Daily Shot: Global Macro Currents May1

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Actionable Intelligence: Let’s begin with Spain, where economic growth continues to pick up steam. How is that possible with nearly a quarter of the population listed as unemployed? This is a “jobless recovery” on steroids. Here is Spain’s quarter-over-quarter GDP growth, which beat consensus.

The Daily Shot: Iron Ore Apr24

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Actionable Intelligence: We begin with Iron Ore; prices have caught support aided by the news headlines of BHP Billiton curtailing planned expansion in Australia, that in addition to chatter of new stimulus out of China, and a little USD weakness