FRIDAY 5/1/15; Global PMI’s; Labour Day; International Worker’s Day: May Day; CLX; CTB; CVS; DUK; FE; WY; ISM Mfg Index; Consumer Sentiment; US Stocks Rally; Copper Rallies +11% in 7 Days; BRKA

Labour Day, International Worker’s Day and other holidays have many world markets shuttered for this first day of May; May Day. Vietnam markets remain closed to complete a four-day holiday. Malaysia, Indonesia, Thailand and Singapore are closed on holiday. Malaysia remains closed on Monday and Thailand is closed until Tuesday.

Light volume trading occurs on the markets that are open. The SPASX200 gains +0.4%. The NIKK ends the session and week flat. Japan’s Consumer Inflation is +0.2% beating the +0.1% expectation. The core CPI is up +2.2% beating the +2.1% expectation and above the prior month’s +2.0% so Japan receives the tiniest whiff of inflation to make the BOJ happy. Japan’s household spending 

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 50 years as CEO of BRKA.

The Baltimore riots are calm after the city indicts six police officers on criminal charges in the death of Freddie Gray; the black man that died after he was arrested and in custody. Online services are restored for JPM and COF after software problems disabled the financial websites at noon time.

Euro 1.12. The euro moves sharply higher this week and US dollar index lower. USD 95.21. Dollar/yen 120.16. Pound 1.5139. WTIC oil is at 59.26 at the highs for the year. Brent oil 66.46. Natty gas 2.769. Gold sinks to 1177. Silver 16.115. Copper 2.94.

Treasury yields are; 2-year 0.60%, 5-year 1.50%, 10-year 2.12%, 30-year 2.83%. The 2-10 spread is 152 basis points. The yield curve is steepening. The 5-30 spread is 133 bips. German bund 0.357%. Japan 10-year yield 0.38%.