Posts filed under “Markets”
Succinct Summations week ending October 24th
1. S&P 500 rose ~ 4% for the week — amazingly is now down less than 1% for the month.
2. Initial jobless claims came in slightly higher than expected but the 4-week moving average fell to the lowest levels since 2000.
3. Mortgage refinance applications rose 23.3% w/o/w as 30-year mortgage rates fell to their lowest levels since May 2013.
4. Consumer prices, bot headline and core rose 0.1% vs flat estimates.
5. Existing home sales came in at 5.17mm, the highest since September 2013.
6. New home sales rose to 467k, the most since ’08.
7. Japanese manufacturing PMI rose to 52.8, a 7-month high.
1. Despite the lowest 30-year loan rates in over a year, mortgage applications fell 4.8% w/o/w.
2. New home sales in August were revised down by 38k.
3. Consumer confidence in Italy fell to an 8-month low.
4. Markit’s US manufacturing “new orders” fell to a 9-month low.
5. Chinese GDP came in at 7.3%, down from 7.5% in Q2.
Source: Research Affiliates Rob Arnott of Research Affiliates writes: In a world of low bond yields and slow economic growth, historically realized 5-6% real (7-8% nominal) asset class returns may be unrealistic expectations for the future. In other words, assets with above-average valuations may not deliver the sort of returns people came to expect…Read More
Succinct Summations of Week ending October 17th Positives: 1. Initial jobless claims came in at 264k, their lowest numbers since 2000. 2. Gasoline prices fell to their lowest levels since 2011. 3. Russell 2000 actually finished up 2.8% on the week. 4. U of M consumer confidence came in at 86.4, the best since 2007….Read More
The change in tone in the equity markets is unmistakable: There is a palpable tension that leads some money managers to shoot first and ask questions later. The net result of that anxiety can be seen in the flood of new money into U.S Treasuries, which ever so briefly drove the yield on the 10…Read More
We are having a few people over this evening to chat markets, economy and corrections. If anyone wants to come by this evening, we are at The Edgar at Mayflower Renaissance in D.C. Come on by at 6pm and say hello!