Succinct summation of week’s events (02/10/12)
Succinct summation of week’s events:
Positives:
1) Initial Jobless Claims fall to 358k, 12k less than expected and the 4 week average drops to 366k, the least since May ’08
2) Job Openings in monthly BLS data rise to match the highest since Sept ’08
3) MBA said avg 30 yr mortgage rate falls to new low of 4.05% and refi’s jump 9.4%
4) German Factory Orders in Dec rise a bit more than expected
5) China’s PPI moderates to a gain of just .7% y/o/y, the slowest rate since Nov ’09
6) Indonesia unexpectedly cuts rates to 5.75% while RBA and SK sit pat
Negatives:
1) Greece on brink, AGAIN, unemployment rate in Nov hits 20.9% from 18.2% in Oct
2) German exports in Dec, the main driver of their economy, falls 4.3% m/o/m vs an expected decline of just 1%, German IP falls 3% vs est of flat from Nov
3) Euros being redeposited with the ECB overnight remain around 500b, matching the amount borrowed under the LTRO
4) BoE votes for more QE, brings asset purchase program up to 325b pounds. The most famous English economist, John Maynard Keynes once said this in a book of his, “Lenin is said to have declared that the best way to destroy the Capitalist System was to debaunch the currency. By continuing a process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens…while the process impoverishes many, it actually enriches some…Lenin was certainly right…The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose,”
5) US inflation expectations in TIPS continue to drift higher
6) Feb UoM confidence moderates 2.5 pts after Jan jump of 5,
7) Avg gallon of gasoline at the pump rises to most since Sept.
Category: Markets.
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Comments
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
8 Responses to “Succinct summation of week’s events (02/10/12)”
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Robespierre Says:
February 10th, 2012 at 3:49 pmReading this:
At least so far, each round of US Fed money printing (quantitative easing) has had a very positive impact on stock prices, but with diminishing duration of positive impact at each money printing interval. The latest Fed balance sheet expansion experiment that is the current dollar swap arrangement with the European Central Bank (ECB) is now only two months old. ”contraryinvestor.com/mo.htm
Also I don’t get these two items:
7) Avg gallon of gasoline at the pump rises to most since Sept.Inquiring minds are watching a plunge in Petroleum Distillates and Gasoline usage.
globaleconomicanalysis.blogspot.com/2012/02/huge-plunge-in-petroleum-and-gasoline.htmlWhy the price of gas going up when demand is going down? or is it usage going down because of rising prices?
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rktbrkr Says:
February 10th, 2012 at 5:11 pmGulf War III coming soon to a theater near you!
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formerlawyer Says:
February 10th, 2012 at 5:20 pmOf course #7 is the sign of the Rapture – Mr. Santorum said so,
www.theatlantic.com/business/archive/2012/02/rick-santorum-is-right-gas-prices-caused-the-great-recession/252790/ -
Mark E Hoffer Says:
February 10th, 2012 at 5:22 pm“…John Maynard Keynes once said this in a book of his, “Lenin is said to have declared that the best way to destroy the Capitalist System was to debaunch the currency. By continuing a process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens…while the process impoverishes many, it actually enriches some…Lenin was certainly right…The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose,”…”
Deeply True. (Lenin’s insight)
and, really, at the EOD, Why else would there be a Central Bank (the Federal Reserve) at the ‘Heart’ of the Economy?
Good thing ‘We’ don’t have to think about it..
or, maybe, We do (?)
search.yippy.com/search?query=Expiration+of+The+Federal+Reserve+Act&tb=sitesearch-all&v%3Aproject=clusty
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r Says:
February 10th, 2012 at 7:17 pmfor traders, we might have seen a 30-60 high.
signals are
“Open Thread: “Where Are the Bears?” and
“Are Positives Starting to Dominate ?” -
PeterR Says:
February 10th, 2012 at 7:28 pmMF Global deficit at 1.6 billion?
dealbook.nytimes.com/2012/02/10/mf-global-trustee-sees-1-6-billion-customer-shortfall/?hp
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Freddy Hutter - TrendLines Research Says:
February 10th, 2012 at 7:38 pmTRI quantification of forward-looking economic data releases over the past weeks suggests GDP will shake off a dip to a o.7% pace in March (Q1) and rise to 2.7% in September (Q3), the latter being the final BEA announcement in the days prior to the Nov 6th Election.
TRI chart: trendlines.ca/free/economics/RecessionIndicatorUSA/USA-TRI.htm
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CitizenWhy Says:
February 10th, 2012 at 8:00 pmOf course German exports are falling. Austerity is shrinking all the European economies, especially the “bad” countries that borrowed from German banks to buy German Goods.
And the Chinese economy is not growing so much. China is German”s main export buyer.
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