Succinct summation of week’s events:

Positives

1)Private sector job gains about line with expectations 2)Initial Claims fall below 450k 3)Aug Pending Home Sales better than expected 4)ISM services rise more than estimated but components mixed 5)Purchase apps at 5 mo high 6)For asset prices at least, BoJ will buy anything, Bernanke hints at more QE 7)For sound money, BoE and ECB stay put 8)Strong Australia jobs # 9)Shanghai index at 5 mo high 10)China likes Greek debt, Greek 10 yr below 10% for 1st time since June

Negatives

1)QE consequence, CRB index at 2 yr high, message to Fed: Be Very Careful What You Wish For 2)$ index lowest since Jan, Brazil/South Korea take step toward capital controls 3)Fitch downgrades Ireland credit rating 4)Sept private Payroll gain modest, U6 at 17.1%, matches 9 mo high 5)Refi’s fall to 8 week low 6)ABC confidence at 8 week low 7)Sept Canada jobs # falls

Category: MacroNotes, Uncategorized

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

4 Responses to “Succinct summation of week’s events”

  1. Lugnut says:

    I repeat myself when under stress…

    I repeat myself when under stress…

    I repeat myself when under stress…

    (+10 Internet karma points for whoever gets the reference)

  2. nemo says:

    King Crimson!

    Let’s see how long this double posting stays up.

  3. I saw King Crimson (Adrian Belew/Robert Fripp) when I was an undergraduate

    And o also saw Frippertronics

  4. Baywatcher says:

    I remain astonished at the spin put on some really dreadful numbers for housing and unemployment.

    The housing inventory won’t be depleted for a minimum of five years. We have a structural unemployment problem that likely means that unemployment won’t ever again go much below 8.5 percent for job seekers and 12 to 13 percent for the U-6.

    Corporate top line revenue is stagnant and bottom line improvements are coming at the expense of layoffs or at the exchange of full-time workers for part-timers.

    How can you and others trumpet any of this as good news. If it’s simply better than it might have been, that doesn’t at all qualify as good. In the same way, you might just as well say that nearly one million European Jews survived the holocaust.

    I think there’s too much Kool Aid in the diets of Wall Streeters.