Succinct summation of week’s events:

Positives:

1) Greece passes another hurdle to get more funds from 1st bailout and Germany and France coalesce around ‘we have no choice debt rollover’ as part of bailout 2
2) ISM mfr’g much better than feared but looks inventory related as new orders barely rise and export orders fall to slowest since July ’09
3) May Pending home sales surprise to upside by 8.2%
4) May Japanese IP jumps 5.7%, V bottom in progress?
5) QE2 RIP, the market manipulation stops for now

Negatives:

1) Mfr’g indices in China, India, Taiwan, South Korea, UK and euro zone all moderate in June
2) German May retail sales unexpectedly falls, jobs data good but not as much as expected
3) Initial Claims disappoint again, above 400k for 12th straight week
4) US Treasury goes 0 for 3 with disappointing auctions without cushion of Fed and yields spike across yield curve
5) Conference Board consumer confidence falls to 7 month low, job answers weaken
6) Apr S&P/CS home price index falls to lowest since June ’03 SA
7) MBA said purchase apps fall to 4 month low even with 7 1/2 month low mortgage rates
8) Canada’s CPI rises to most since Mar ’03, rate hike likely soon

Category: 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.

6 Responses to “Succinct Summation of Week’s Events (7/1/11)”

  1. Bokolis says:

    I didn’t even read the negatives because the positives either had, or could have easily had, qualifiers attached to them. What’s that saying- please, smart guys, answer- about this taco stand?

  2. JimRino says:

    It might help if we stopped sending all our IT jobs to India.
    Keeping the US Number 1 in Software development, plus, keep the Multiplier Effect in the USA.

  3. JimRino says:

    Funny how Germany doesn’t Export Jobs, had a stimulus and has a great economy.
    Why does the US Business Community continually Blunder on Economic Policy.

    Who is the idiot who makes economic policy in this country?

  4. Jim,

    Eventually, India will be richer. Then they will send all their jobs back to America. It is something about the future to hope for….if you are 12

  5. rktbrkr says:

    Not only do we export our IT jobs then our tech giants like Cisco game the tax system to take their profits overseas to avoid US taxes and then John Chambers has the chutzpah to try to repatriate these profits tax free in the US – supposedly to create jobs here? Cisco painted itself in a corner and can’t get their profits to their shareholders so he asks for a free pass!

  6. Greg0658 says:

    “something about the future to hope for….if you are 12″ .. the Tides Game of slooshin cash .. (my pension cash)