Today's ReadsInteresting readings from today
US markets ripped higher in the morning on reports of better than expected China GDP growth, up 8.9% vs 89.7% consensus. The funny thing is that I have not been able to get hold of the expenditure breakdown of the Chinese GDP i.e. C+I+X-M+G. And there is plenty of skepticism about the trustworthiness or the quality of Chinese economic figures. In any case, the market seems to be shrugging off bad news, and the FT tries to make a point that it could just be short covering.
In "Time to stop fearing the Greek CDS bogeyman" Sober Look gives 4 reasons why a trigger of the Greeck CDS is not as big a deal as the ECB is making it to be, (1) they're already marked to market (2) protections are written long time ago (3) worst case scenario priced in because CDS spreads have narrowed vs 1 month ago, and (4) CDS is already pricing in a 70% probability of a default.
CNBC has an interesting explanation of "Credit Event for CDS and Bond Payouts".
An interesting interview with the CEO of Athenahealth (ATHN), a Healthcare Tech Company, by Fortune Magazine. Couple of interesting tidbits (1) 1/3 of healthcare is consumed by 5% of population that dies each year, another 1/3 by 5% with chronic diseases, and the rest by 90%, (2) VC invested $410 million in Healthcare IT in 2011 vs $30 billion in tech including social media, and (3) only ~1% of doctors are using closed loop Healthcare IT system because it is illegal for a pharmacy or a testing lab to pay a doctor for sending information electronically - it's considered a kickback.
An interesting chart of oil price going back to 1861 from page# 15 of BP Statistical Review of World Energy (June 2011)
