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Recovery in Perspective: Nominal GDP Edition
Recovery in Perspective: Nominal GDP Edition
econompicdata.blogspot.com — Remember that "recovery" we experienced in the third quarter? Turns out nominal GDP bounced a "whopping" 3.2% (down 1% from the initial release). Or to put this figure in perspective, the 42nd highest quarter out of the last 251 or one of the lowest ... (more) Recovery in Perspective: Nominal GDP Edition
Q3 GDP Revised Down to 2.8%
WSJ reports: The U.S. economy's recovery wasn't as strong as earlier believed, the government said Tuesday, revising its third-quarter numbers to show a wider trade deficit and lower consumer spending than previously estimated. Gross domestic product rose at a 2.8% annual rate July through ...
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Existing Home Sales Jump
Washington Post details: The National Association of Realtors reported that sales of existing single-family homes, townhomes and condominiums in October surged to a seasonally adjusted annual rate of 6.1 million units from 5.54 million in September -- making last month the strongest since ...
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Agency Mortgage Bonds are RICH
Agency Mortgage Bonds are RICH
econompicdata.blogspot.com — Bloomberg (via Calculated Risk ) details Meredith Whitney's latest concern: The Federal Reserve has begun slowing purchases in the $5 trillion market for so-called agency mortgage-backed securities after announcing in September that it would extend ... (more) Agency Mortgage Bonds are RICH
The New Moon... The Power of the Women Filmgoer
"Monster" weekend for The Twilight Saga: New Moon. Per the AP : The vampire romance "The Twilight Saga: New Moon" sucked up $140.7 million in its first three days and pulled in a total of $258.8 million worldwide, according to studio estimates Sunday. The No. 1 domestic debut for Summit ...
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EconomPics of the Week (11/20/09)
EconomPics of the Week (11/20/09)
econompicdata.blogspot.com — Breakin’ Down the Growth Leading Economic Indicators Losing Strength No Inventory Correction in September Retail Sales Upside Suprise... Still Weak Longer Term Japanese GDP... 4.8% Growth, but Ugly? Assets Selecting a Domestic Fixed Income ... (more) EconomPics of the Week (11/20/09)
Selecting a Domestic Fixed Income Benchmark
Selecting a Domestic Fixed Income Benchmark
econompicdata.blogspot.com — Barclays Aggregate is Yielding Just 3.35% Last month I detailed that the yield to worst of the Barclays Capital Aggregate Bond Index (i.e. the most popular US dollar fixed income benchmark) was minuscule at just around 3.5%. Well it is now ... (more) Selecting a Domestic Fixed Income Benchmark
Leading Economic Indicators Losing Strength
Leading Economic Indicators Losing Strength
econompicdata.blogspot.com — The AP details the "best in 25+ year" run of the leading economic indicators that still somehow managed to disappoint : A private forecast of economic activity over the next six months edged up less than expected in October, signaling slow, bumpy ... (more) Leading Economic Indicators Losing Strength
Gone Fishing
Posting to resume tomorrow...
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CPI and Capacity; Auto Prices and CFC
Marketwatch details the latest CPI release: The consumer price index increased a seasonally adjusted 0.3% in October as energy prices increased for the fifth time in six months to offset another rare decline in rents, the Labor Department said. The core CPI rate, which excludes food and energy ...
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Housing Starts and Permits Down.... GOOD
Marketwatch reports: New construction of U.S. houses fell sharply in October to the lowest level in six months, the Commerce Department estimated Wednesday. Starts fell 10.6% in October to a seasonally adjusted 529,000 annualized units weaker than the 590,000 pace expected by economists ...
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What Stinkin' Inflation? PPI Edition
What Stinkin' Inflation? PPI Edition
econompicdata.blogspot.com — Briefing detailed the latest PPI release: The producer price index rose 0.3% in October, well below the consensus expectation of an increase of 0.5%. Excluding food and energy prices, core PPI fell an astounding 0.6% over the month. For the year, ... (more) What Stinkin' Inflation? PPI Edition
1 in 7 Americans Affected by Food Insecurity
Ed Harrison of Credit Writedowns (via The Guardian ) details a disturbing trend: The US Department of Agriculture highlights how the United States in the last decade, despite increased aggregate wealth, slid back significantly in terms of food insecurity as measure of poverty. With everyone now ...
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No Inventory Correction in September
Forbes reported earlier this morning (traveling again all week so expects delays): Total business inventories continued to fall in September by 0.4%, less than the 0.7% decline economists were expecting, the Commerce Department reported today. September now marks the thirteenth consecutive ...
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Retail Sales Upside Suprise... Still Weak Longer Term
Retail Sales Upside Suprise... Still Weak Longer Term
econompicdata.blogspot.com — Marketwatch reports: U.S. retail sales increased a seasonally adjusted 1.4% in October, led by a rebound in auto sales, the Commerce Department estimated Monday. Excluding the 7.4% increase in auto sales, retail sales rose 0.2% in October. Auto ... (more) Retail Sales Upside Suprise... Still Weak Longer Term
Has Euro CPI Seen Its Lows?
The AP details: Consumer prices in the 16 countries that use the euro fell by 0.1 percent in the year to October, official figures confirmed Monday. Eurostat, the EU's statistics office, kept the rate unchanged from its preliminary estimate, in line with market expectations. October's decline ...
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Japanese GDP... The Worst 4.8% GDP Print Ever?
Japanese GDP... The Worst 4.8% GDP Print Ever?
econompicdata.blogspot.com — EconomPic detailed Japan's odd Q2 GDP print in which real GDP rebounded to positive territory for the first time since Q4 2007, even as nominal GDP continued to contract: This has happened before (but real GDP has never been higher, while nominal GDP ... (more) Japanese GDP... The Worst 4.8% GDP Print Ever?
EconomPics of the Weeks (11/13/09)
econompicdata.blogspot.com — Economic Data United States The "Paradox of Deleveraging" Civilian Hours vs. Real GDP Consumers Don't Enjoy Unemployment Trade Deficit Jumps in September The State of States: They're Broke Spending Down + Deficit Up = Not Good Foreign  ... (more) EconomPics of the Weeks (11/13/09)
Consumers Don't Enjoy Unemployment
Bloomberg details: Confidence among U.S. consumers unexpectedly fell in November for the second consecutive month as surging unemployment shook households. The Reuters/University of Michigan preliminary index of consumer sentiment decreased to 66 from 70.6 in October. The gauge was projected ...
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Trade Deficit Jumps in September
Bloomberg details: The trade deficit in the U.S. widened in September by the most in a decade, reflecting rising demand for imported oil and automobiles as the economy rebounded from the worst recession since the 1930s. The gap grew a larger-than-anticipated 18 percent to $36.5 billion, the ...
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