Succinct summation of week’s events:

Positives:

1) Euro zone Finance Ministers finalize the temporary combination of the EFSF and ESM. Italy and Spain get to contribute to their own bailout fund if needed
2) German unemployment falls more than expected and rate falls to lowest since reunification
3) German IFO business confidence up slightly to the highest since July
4) Italian business confidence up slightly from lowest since Dec ’09 and consumer confidence rises to 8 month high
5) U oM consumer confidence rises a touch to best since Feb ’11
6) Personal Spending in Feb rises .8% m/o/m, above estimates of up .6%
7) MBA said purchase apps rose 3.3% to a 10 week high.

Negatives:

1) Inflation expectations in both the UoM (3.9%) and Conference Board (6.3%)confidence figures rise to the highest since May, 2) Chicago, Richmond, Dallas and KC mfr’g survey’s all fall more than expected in Mar from Feb
3) Real income falls in Feb by .1%, savings rate drops to 3.7%, the lowest since Aug ’09
4) Initial Jobless Claims 4 week avg 365k after benchmark revisions vs 355k prior
5) Feb Durable Goods orders grow less than expected after Jan’s weakness
6) MBA said refi’s fell 4.6% to lowest since early Dec
7) S&P/CS home price index falls to cheapest since Jan ’03
8) Pending Home Sales in Feb unexpectedly falls .5% but from most since Apr ’10
9) German retail sales in Feb falls for 4th month in past 5
10) Shanghai index closes down for the 3rd straight week due to continued concerns with economic growth
11) Bernanke wants to do more?
12) Gasoline prices rise another .035 on the week to $3.93.

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.

9 Responses to “Succinct summation of week’s events: 3.30.12”

  1. mg601 says:

    another positive- ECRI weekly leading index up nearly every week this quarter and at a seven month high.

  2. willid3 says:

    gop tax break for ‘small business’ to create jobs..is really for the top 1%?
    http://www.thefiscaltimes.com/Columns/2012/03/30/The-Small-Business-Tax-Break-That-Favors-the-Rich.aspx#page1

    a bit of extreme way to get managements attention?
    http://www.nakedcapitalism.com/2012/03/wolf-richter-taking-bosses-hostage-a-labor-negotiating-tactic-in-france.html

    the new old retirement…or the work till you die? are going back to the days when you had no retirement unless you were wealthy? and does that mean mom and dad will be moving in with their kids like they used when they could no longer work?
    http://finance.yahoo.com/news/working-9-to-5—-at-75.html?page=1

    http://finance.yahoo.com/news/working-9-to-5—-at-75.html?page=1

  3. Iamthe50percent says:

    Does a Bear defecate in the Woods?

  4. chris says:

    Hey Barry, With my super spidey senses i have noticed for some time that your positives are quite shy compared to your negitives.Are you giving a subconcious sell indicator for the world?

  5. mathman says:

    No Fishin’

    http://mdn.mainichi.jp/mdnnews/news/20120331p2a00m0na010000c.html

    “Fukushima fishermen hopeless after nuke contamination postpones fishing season”

    http://www.stuff.co.nz/the-press/news/6664044/Transpower-battens-down-for-sun-storms
    (from article)
    “As the Sun heads towards its 11-year sunspot maximum – a result of its magnetic field switching between north and south – solar-storm activity is increasing.

    Solar flares from sunspots eject radiation towards Earth in the form of X-rays and other charged particles, which can cause havoc with power and telecommunication systems and produce stunning auroral displays.

    The National Aeronautics and Space Administration in the United States says solar activity will peak this year and could be the most intense for 50 years.

    National grid companies around the world are swinging into action to prepare for the worst.”

    on the pollinator front:
    http://uk.reuters.com/article/2012/03/29/us-science-pesticides-bees-idUKBRE82S12P20120329

    Studies show how pesticides make bees lose their way

    “Scientists have discovered ways in which even low doses of widely used pesticides can harm bumblebees and honeybees, interfering with their homing abilities and making them lose their way.”

    and finally
    http://thinkprogress.org/romm/issue/

    Civilization Is At Risk Absent ‘Urgent And Large-Scale Action’ Warns Planetary Summit
    (from same)

    “Research now demonstrates that the continued functioning of the Earth system as it has supported the well-being of human civilization in recent centuries is at risk. Without urgent action, we could face threats to water, food, biodiversity and other critical resources: these threats risk intensifying economic, ecological and social crises, creating the potential for a humanitarian emergency on a global scale….

    The defining challenge of our age is to safeguard Earth’s natural processes to ensure the well-being of civilization while eradicating poverty, reducing conflict over resources, and supporting human and ecosystem health….

    As consumption accelerates everywhere and world population rises, it is no longer sufficient to work towards a distant ideal of sustainable development. Global sustainability must become a foundation of society. It can and must be part of the bedrock of nation states and the fabric of societies.”

  6. Greg0658 says:

    well I guess I found an answer to why I can’t find Rolaids on the shelves around here .. my 100count bottle has been on the shelf for years and just needed replacement .. Humm – I wonder if there is another angle story here – meaning FDA or some gov agency pushing strings to create small manufacturing streams / goodbye bigbox hello mom&pop (for theBP demand of it all)
    http://www.usatoday.com/money/industries/health/2011-03-01-antacid-shortage_N.htm

    so much to know – who do I buy from now – humm

  7. techy says:

    “Civilization Is At Risk Absent ‘Urgent And Large-Scale Action’ Warns Planetary Summit”
    ————–
    me feels that the population and human activity will be automatically curtailed with help of hurricanes, extreme summer/winter, dust storms, loss of crop due to drought and or pests etc…

    Yes thats not the way to deal with a problem but in the big picture we are just another group of animals fluttering around doing our thing without planning for consequences. Complete control of everything by corporations is going to prevent anything which hinders profits, except a natual shock.

  8. VennData says:

    “…Chinese manufacturing gained momentum for a fourth straight month in March, helped by a recovery in the auto, tobacco and electronics sectors…”

    http://seattletimes.nwsource.com/html/businesstechnology/2017885019_apaschinamanufacturing.html