Succinct summation of week’s events:
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.
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.
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.