Succinct Summations week ending March 7, 2014
1. The MSCI World index has hit a new all-time high.
2. The market hit new all-time highs on Tuesday, 24 hours after a flight to safety.
3. Nonfarm payrolls came in at 175k, well ahead of the 149k expected.
4. Average hourly earnings rose 0.4% and are up 2.2% y/o/y.
5. U.S. PMI came in at 57.1, beating expectations and highest level since May 2010.
6. Spending increased 0.4% vs expectations for a 0.1% gain.
7. Basic earnings of workers rose in Japan (January) for the first time in nearly 2 years! (H/T Abenomics)
8. Initial jobless claims came in at 323k, down from 348k.
9. Personal income up 0.3%, in line with expectations.
10. February ISM came in at 53.2 v expectations of 52.3.
11. Euro zone PMI was revised from 51.7 up to 52.6
1. The week got off to a rough start with the Russian stock market off 10%, flight to safety ensued.
2. The unemployment rate ticked up to 6.7% from 6.6%.
3. Productivity in Q4 Rose 1.8%, down from 3.2% in Q3 and below expectations.
4.February SAAR vehicle sales came in below expectations and flat y/o/y.
5. Russia’s stock market was down 10% on Monday
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.