Monthly Archives: October 2011

Keep an eye on Spanish and Italian bonds

The markets are rejoicing on the European plan to deal with the credit crisis. Although many commentators are saying it is inadequate, I think European leaders still deserve some credit. It is not easy to get stuff done when you … Continue reading

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Surprise postive move in housing index

The National Association of Home Builders came in at 18 versus expectations of 15. This index has been between 13 and 17 for the past 1 year. The index is a survey in which asks respondents about the condition of … Continue reading

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Unemployment claims improving and recapitilization of European banks.

One data point which is improving is the unemployment claims data and you generally don’t get a recession unless this data point is deteriorating. Last week the claims data dropped sharply to 391K from 428K. The BLS wrote a cautionary … Continue reading

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Manufacturing ISM, China and Greece

Today the Manufacturing ISM report for September came in at 51.6 which was better than expectation and which indicates that the US manufacturing sector expanded in September. The employment index increased  to 53.8 from 51.8. Now here is the bad … Continue reading

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