Fx Primus Rebates

Solid earnings from Citigroup and Wells Fargo

Earnings season underway – Citigroup earns $1.68 vs $1.61 per share expected – Citi revenue $18.87B vs $18.86B est – Citi fixed income revenue $3.42B vs $3.70B est Both companies missed on the efficiency ration, which is the measure of what it costs to produce a dollar of revenue. Citi was at 57.9% versus its…

Fx Primus Rebates

Canada March existing home sales +1.3% vs -6.5% prior

From the Canadian Real Estate Association – Prior was -6.5% – Actual (not seasonally adjusted) activity was down 22.7% from last year’s all-time March record and a four-year low for March Canadian housing is definitely wilting but it’s unclear how bad it is. These numbers were worsened by new regulations hitting in January.

Fx Primus Rebates

JOLTS and U Mich consumer sentiment up next

Economic data coming up The consumer in the US has been smiling for a couple years but after the tax cut, they should be downright giddy. This week’s FOMC minutes pointed to residual seasonality as one of the reasons for the poor showing so far in Q1. If sentiment picks up further or even holds…