WEDNESDAY 4/15/15; China GDP; German Bund Record Low Yield 0.126%; ECB Rate Decision and Press Conference; Draghi Attacked; FTSE Record High; BAC; USB; DAL; TITN; Empire State Mfg Survey; Industrial Production; Beige Book; RUT Record High; NFLX; SNDK; IRS Tax Return Deadline

China GDP growth and other economic data are weaker than expected. GDP is 7% at a six-year low; the slowest activity since the financial crisis in 2009 when GDP was 6.6%. Last quarter was 7.3%. Industrial Output data misses the mark growing at only one-half the expected pace. China Retail Sales miss expectations at a nine-year low questioning the strength of the domestic economy.

Traders expect more easy money policies from the PBOC including rate cuts, triple R cuts and other targeted measures but the central bank is dampening expectations. Obviously, Chinese and Asian  traders are already hooked on central banker easy money that pumps stock prices higher just like in the US and Europe; the PBOC is attempting to put the genie back in the bottle. The PBOC says targeted measures will continue which disappoints traders that expect stronger stimulus measures. The SSEC trades down -1.3% but the HSI is up +0.2%.

The NIKK ends down -0.2%. SPASX 200 is down -0.6%. The Aussie dollar weakens on the China data to 0.7583. The KOSPI continues higher on a four-day winning streak gaining +0.4% at 2120. Asiana Airlines drops -4% after an airplane slides off a Japanese runway resulting in minor injuries to a couple dozen passengers.

Chinese power-transformer maker China Power may go into default if a bond interest payment deadline is not met next week. The financial risks are increasing concerning China defaults. Alternative energy investor Baoding Tianwei Group is set to default on a payment next week and Cloud Live Technology missed a bond payment 




















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 ETSY IPO prices at the top of its 14-16 range at $16 per share. The popular online crafts retailer is valued at $1.8 billion. Trading in ETSY is expected to begin tomorrow. Perhaps Etsy representatives will hand out knitted scarves, homemade soaps or handmade candles to commemorate the event.

The high-speed trading company Virtu Financial IPO prices at $19 per share and will trade under the symbol VIRT. Virtu delayed its IPO due to the release of the Micahael Lewis book “Flash Boys” last year that created an intense spotlight on HFT (high-frequency trading). The PRTY IPO prices at $17 per share and is hoping for a big party at Party City tomorrow.