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Record-Breaking Data Everywhere!

Posted By Barry Ritholtz On November 20, 2008 @ 6:30 am In Data Analysis,Economy,Employment,Markets | Comments Disabled

One of the interesting aspects of this unprecedented housing collapse, credit crisis, economic recession and market crash has been all the new records we keep seeing:

• Over the past year, the S&P 500 index lost ~$1 trillion more than the entire 2000-2002 bear market, according to Standard & Poor’s. From the October 2007 highs of 1,565, to yesterday’s close of 806.58, the S&P 500 market capitalization lost $6.69 trillion. That’s almost $1 trillion more than entire 2000-03 bear market losses of $5.76 trillion. (Marketwatch [1])

• The S&P 500 hasn’t been this far below its 200-day moving average on a percentage basis since The Great Depression. (Doug Kass [2])

• CPI: U.S. consumer prices in October registered their largest single-month decline since before World War II. It is the largest monthly drop in the 61-year history of the data;

• PPI, down 2.8% for the month, was also record breaking drop.

• The dividend yield on the S&P 500 is now greater than the yield on the 10-year Treasury. That hasn’t happened since 1958. (Barron’s [3])

• First-time claims for U.S. unemployment insurance rose to the highest level since September 2001. The total number of people on unemployment benefit rolls jumped to the highest level since 1983.

• Housing starts fell to 791,000, off 38% from a year ago. That’s the slowest pace of starts since data began being compiled in 1959. Starts are now down 65% from the early 2006 peak — this has become the very worst housing downturn on record.

• Permits for new houses, at a 708,000 pace, were off 40% from a year ago, also the lowest total since it has been tracked starting in 1960. Put this into context of population — in 1960, the total U.S. population stood at 180 million — 60% of today’s 300 million.

more Doug Kass: The 30-year return for BBB-rated corporate bonds is now greater than the 30-year return for stocks. So it has not paid to take equity risk for 30 years! (The Street.com [4])

• The TIPS Spread ( Treasury Inflation Protected Securities versus the 10-year Treasury) is at a record low 54 basis points (1997)

• The Russell 3,000 now has 1228 stocks a share price under $10. That’s 42% of the index. At the market’s 2002 lows, there were significantly less stocks trading below $10/share — just 884 (Bespoke Group [5]).

• The ratio of the Dow to the SP 500 is at a 42-year high. It’s inches away from hitting 10 for the first time since 1966. (Crossing Wall Street [6])


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URL to article: http://www.ritholtz.com/blog/2008/11/record-breaking-data/

URLs in this post:

[1] Marketwatch: http://www.marketwatch.com/news/story/sp-500-losses-nearly-1/story.aspx?guid=%7B5D5C7323%2DAAF0%2D4C0E%2DB542%2D279085D9299F%7D&dist=msr_1

[2] Doug Kass: http://www.thestreet.com/b/dps/te/20081117/theedge1.html#entryId10448355

[3] Barron’s: http://online.barrons.com/article/SB122704724304638861.html

[4] The Street.com: http://www.thestreet.com/b/dps/te/20081117/theedge1.html#entryId10448402

[5] Bespoke Group: http://bespokeinvest.typepad.com/bespoke/2008/11/stocks-over-100-and-under-10.html

[6] Crossing Wall Street: http://www.crossingwallstreet.com/archives/2008/11/fun_with_number.html

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