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Succinct summation of week’s events
Posted By Peter Boockvar On September 24, 2010 @ 4:15 pm In Markets | Comments Disabled
Succinct summation of week’s events:
1) Durable goods core cap ex better than expected
2) Multi family starts highest since Mar ’09, single family permits drop (we need less new ones right now)
3) German IFO highest since June ’07
4 ) Asset prices love a Fed that only knows cheap money and more of it as path to prosperity
5) Commodity prices continue higher, good global growth?
6) Stocks of South Korea, Thailand, Indonesia, India, Singapore and Philippines rise to multi year, and for Jakarta an all time high.
1) B52 Ben cleared for another takeoff, US$ index near 9 month low, commodity prices higher, gold at record high, inflation expectations rise, this can’t end well
2) Jobless Claims stay weak
3) NAHB holds at 18 mo low
4) New Home Sales a hair above 47 yr low and prices near 7 yr low
5) Single family permits drop, more drag for construction
6) Refi’s at 6 week low, purchases at 3 week low.
7) PIG debt concerns continue to grow
8) ABC confidence falls to 6 week low
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