UOM/Reuters Consumer Sentiment For June At 76.0
Consumer sentiment final reading for June came out at 76.0 vs. 75.5 consensus and same prior estimate. May reading was at 73.6. Chart 1. University of Michigan/Reuters Consumer Sentiment
Archive for June, 2010
U.S. GDP Growth in Q1 2010 Revised to 2.7%
U.S. GDP growth in Q1 2010 was revised from 3.0% to 2.7%. The consensus was at 3.0%, Q4 reading was at 5.6%. Chart 1. U.S. Real GDP & Percent Change
Friday Reading
I already posted links on stories covering same themes, but since I believe they are important, I will do it again. FT Alphaville: The other liquidity strain — in China. FT.com Blogs / Money Supply: ECB and the €442bn question.
U.S. Natural Gas Weekly – June 24 2010
Working gas in storage rose 81 Bcf from previous week. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average
Durable Goods Orders Fell 1.1% In May
Durable good orders fell 1.1% in May vs. -0.5% consensus and 2.9% increase in April. Transportation taken out the figure was an increase of 0.9% vs. 1.0% fall in April. Chart 1. U.S. Durable Goods Orders Chart 2. U.S. Durable Goods Orders Ex. Transportation
Initial Jobless Down 19.000
Initial jobless claims were reported at 457.000. The consensus was at 465.000, last week revised reading was at 476.000. Some relief to the job market, but level still consistent with job losses. Chart 1. U.S. Initial Jobless Claims
ECRI Weekly Index Debate
The usefulness of ECRI weekly leading index is widely debated today. The debate was started by Bank of America Merrill Lynch biased report: ECRI: Not the “Holy Grail”. David Rosenberg of Gluskin Sheff + Associates in todays Breakfast with Dave: What is fascinating is how the ECRI, which was celebrated by Wall Street research houses a year ago, […]
U.S. Petroleum Weekly – June 23, 2010
Crude oil stocks rose 2.0 million barrels for week ending June 18; Gasoline stocks fell 0.8 million barrels; Distillate stocks increased 0.3 million barrels; Propane/propylene stocks rose 1.1 million barrels; Total crude oil and petroleum stocks were 2.7 million barrels higher than the week before. Refinery utilization rose from 87.9% to 89.4%. Crude oil and […]
FOMC Statement, June 23 2010
Negative tone added to the statement, making a rise in federal funds rate even more distant opportunity. FED Press Release. Economy improving, but the financial conditions less supportive because of developments abroad. Information received since the Federal Open Market Committee met in April suggests that the economic recovery is proceeding and that the labor market is improving gradually. […]
New Home Sales Fell 33.0% In May
New home sales fell 33.0% in May to 300.000, the consensus was at 400.000, prior reading was at 504.000. The lowest reading since 1963. The first home-buyer tax credit expiry is a reason for a this kind of drop, the effect was already seen with cash for clunkers program. A disastrous report. Chart 1. New Home Sales Source: Blytic.com
China / U.S. / U.K. Currency Stand-Off In 1930s
Very interesting comment in the todays Financial Times dealing with the China/U.S./U.K. currency stand-off in 1930s. The roles are a little bit changed but the lessons learnt are interesting in todays context. Finacial Times article: Lessons from the 1930s for a rising renminbi.
Existing Home Sales Fell 2.2% In May
Existing home sales fell 2.2% to 5.66 million SAAR. Consensus was at 6.2 million. A big miss. Total housing inventory is flat at 8.3 months cover. Chart 1. Existing Home Sales
Lack Of Conviction
Looks like the markets similar like Belisarius exhibit lack of conviction. Maybe most interesting development is that Baltic Dry Index keeps falling lower and lover. Collapse here could serve as an advance indicator of China and commodity fall-down.. Chart 1. Baltic Dry Index Elsewhere not much happening, sort of contemplation surrounds the markets, and when we have nothing negative n the news-flow we move up on no […]
Moody’s/Real National Commercial Property Index Rose 1.7% In April
Moody’s/Real National Commercial Property Index rose 1.7% in April and it is now running at -16.4% YoY. Chart 1. Moody’s/Real National Commercial Property Index
Rig Count Weekly June 7, 2010
Number of oil drilling rigs rose for 13 for the week ending June 18, 2010; Number of natural gas drilling rigs fell for 1 rig in the same time frame. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count ose