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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pbull who wrote (29476)	5/6/2005 10:03:13 AM
From: mishedlo	Respond to of 116555

UK individual insolvencies hit record high in the first quarter of 2005 UPDATE Friday, May 6, 2005 9:58:04 AM afxpress.com (Updating with more details, analyst comment) LONDON (AFX) - The number of individual insolvencies in the UK rose sharply in the first three months of the year, hitting an all time high, government figures showed today The total number of individual bankruptcies jumped to 13,229, up 1.6 pct from the previous quarter and up 27.9 pct compared with the same period a year ago. Meanwhile, individual voluntary arrangements, an alternative to bankruptcy, surged by 40.1 pct from a year ago "In the first quarter, the ratio was higher than during the early 1990s recession," HSBC economist John Butler said Additionally, the deterioration comes on the back of data published last week showing a rise in applications for mortgage repossessions. The number of actions entered in the first quarter of 2005 rose about 25 pct from the previous quarter and 35 pct compared with a year ago In contrast company insolvencies fell by 7.4 pct with compulsory liquidations dropping some 9.2 pct. Companies going into receivership fell by 49 pct but those going into administration rose 47 pct The number of companies entering administration has now risen for the sixth successive quarter

To: pbull who wrote (29476)	5/6/2005 10:10:27 AM
From: mishedlo	Respond to of 116555

Spain March industrial output excluding calendar effects down 6.5 pct Friday, May 6, 2005 7:45:55 AM afxpress.com MADRID (AFX) - Industrial output without taking into account calendar effects fell 6.5 pct in March from a year earlier compared with a 1.0 pct fall in February, the National Statistics Institute (INE) said In a statement, INE said that taking into account calendar effects, industrial output increased 1.1 pct in March, compared to a 0.8 pct fall in February Energy production declined 0.1 pct in March from a year earlier, while consumer goods output fell 6.6 pct Capital goods output fell 6.7 pct, while intermediary goods production fell 8.6 pct

To: pbull who wrote (29476)	5/6/2005 10:23:52 AM
From: mishedlo	Respond to of 116555

Yam says he does not expect any significant appreciation of the yuan Friday, May 6, 2005 4:55:16 AM afxpress.com HKMA's Yam says he does not expect any significant appreciation of the yuan HONG KONG (AFX) - Hong Kong Monetary Authority (HKMA) Chief Executive Joseph Yam said he does not expect the Chinese yuan to appreciate significantly While Chinese authorities have announced plans to introduce some changes to the country's exchange rate mechanism, the most important factor they will take into account is ensuring the stability of their currency, Yam said at the Legislative Council today He acknowledged that there is lot of speculation in the market regarding a revaluation of the yuan, but said that not all of it is correct With the discount on the one-year deliverable forwards on the Chinese yuan at between 4,700 to 4,800 today, the market is expecting the yuan to appreciate to about 7.8 yuan, from the current 8.28, a year from now, Yam said, adding that he does not agree with such speculation.