Succinct summation of short week’s events:

Positives:

1) Great tech earnings buoy stocks
2) Existing home sales 100k annualized above est
3) Housing starts and permits bounce, good for construction
4) Purchase component in MBA data rises 10% to 19 week high
5) Euro zone mfr’g and services index remain solid
6) Sweden, Thailand and Brazil raise rates and China raises reserve requirements again
7) German PPI rises a robust 6.2% y/o/y but below estimates

Negatives:

1) The balance sheet of the United States of America gets a pop across the head
2) US$ value continues to erode, gold and silver roar higher
3) Philly Fed mfr’g moderates as rising prices create pressure
4) Initial Jobless Claims above 400k for a 2nd straight week
5) NAHB home builder sentiment fall 1 pt to still pathetic 16
6) Housing starts and permits bounce, we don’t need so many new homes
7) Canada CPI up 3.3% y/o/y, well above estimates of 2.8% and compares with a 1% benchmark rate
8) Yields in Greece, Portugal and Ireland go parabolic

Category: Financial Press, Markets

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.

10 Responses to “Succinct Summation of (Short) Week’s Events”

  1. KJ Foehr says:

    “Sweden, Thailand and Brazil raise rates and China raises reserve requirements again”

    Why is raising rates always on the positive side of this list? Isn’t that what central banks do when they want to slow down their economies?

    I guess it is a “bad news is good news” thing because it means those economies are stronger? Or is it because we still think our recovery/growth is independent of the ROW? How can a slowing world economy be good for a US economy that is still on life support? Especially when we are trying to become an export economy via a weak dollar?

    Maybe it is positive because a slowing world economy will reduce world demand for oil and the price will drop???

    Obviously I am missing something important here. Would someone please enlighten me?

  2. Ted Kavadas says:

    RE: “2) US$ value continues to erode, gold and silver roar higher”

    While the rapid price appreciation in Gold and, especially Silver, can be interpreted a number of ways, on balance I don’t think it can be construed positively as far as the overall economic situation is concerned. As I have previously commented, IMHO the real “upside” in Gold and Silver prices occur if they become true “safe havens.”

    I remain very concerned about the fundamental and technical aspects of the falling U.S. Dollar. For those interested, a few of my varied thoughts on the decline of the U.S. Dollar:

    http://economicgreenfield.blogspot.com/2011/03/us-currency-weakness-few-thoughts.html

  3. everyone likes to gainsay TXN’s buy of NSM .. (they should wonder..)

    on other facets..

    “…TI adds accelerators

    At the 2011 MWC, Texas Instruments announced that its new TCI6618 wireless-base-station SOC doubles the performance of the TCI6616, which the company released just six months earlier. According to Kathy Brown, TI’s wireless-base-station-product manager, the TCI6618 targets use in the high-end-base-station market for macrocell or compact-macrocell applications (Figure 4). The TCI6618 integrates four 1.2-GHz C66x DSP cores that support both fixed- and floating-point arithmetic operations, which is unique to TI’s base-station devices, according to Brown. Floating-point operation is especially useful for increasing precision of matrix inversions, she says, resulting in higher spectral efficiency. The TCI6618 is available for sampling, and the company plans volume production for this year. TI will also later announce a device targeting small femtocells and picocells…”
    http://mobile.edn.com/article/517825-DSPs_power_the_race_to_4G.php

    CSCO, instead of killing “Flip”, should have puked out D-Link( but, then, even Wall St. ‘analysts’ would have seen the similarity between D-Link’s 20th C. offering and CSCOs ‘big iron’ (it’s obsolete)..

    Single-Digit CSCO Quotes will be ‘the new Black’..

    http://finviz.com/quote.ashx?t=CSCO now, That’s a Chart you ‘can bring Home to Mother’ (yeah, if you’re Short.)

  4. JohnnyVee says:

    “6) Sweden, Thailand and Brazil raise rates and China raises reserve requirements again”

    Don’t Central Banks raise rates just before collapse? Or, is that just a USA phenomena? I guess we will see.

  5. Bill Wilson says:

    The initial unemployment claims are worrisome to me. It looks as though the trend is starting to flat line.

  6. gordo365 says:

    Gold and silver roaring higher isn’t a negative for some investors :)

  7. VennData says:

    China taxes its rich people at 40% much less than in America, but the GOP says that can’t be, its impossible, how are they incentivized to work? …I guess the Chinese have character, and the GOP doesn’t. Oh they’re raising taxes on the rich too…

    China Plans Small Tax Increase on High Earners

    http://online.wsj.com/article/SB10001424052748704570704576274643035074526.html

    And the Chinese have a $3T surplus, with those 40$ taxes on their rich…

    http://english.peopledaily.com.cn/90001/90778/90862/7351620.html

    It makes you think (unless you’re a GOP genuflecter… who is just greedy and doesn’t really care about about America and cares about yourself.)

  8. Greg0658 says:

    an FYI – yesterday (Thursday) – TBP was running real slow for me during the day – the evening was back to normal and it seems fine now
    1> issues in my machine 2> throttle’g in my building (or NYC) 3> ads / scribed / videos 4> click-thru link payolla upkeep 5> something I ain’t thought of