January 11th, 2011 by Belisarius
*** The Big Picture: Inside the Paradox of Forecasting ***
*** Zero Hedge: The US-Japan Congruity Explained By David Rosenberg In Ten Easy Pictures ***
*** Zero Hedge: Who Leaked Last Week’s (Irrelevant) ADP Number? ***
*** Macro Man: Kings and Queensland ***
*** FT Alphaville: Go north, jaded government bond investor? ***
*** Visualizing Economics: Effect of Dividends Reinvested on US Stock Returns since 1871 ***
*** Paper Economy: Beveridge Curve Balancing Act: November 2010 ***
*** Calculated Risk: CoreLogic: House Prices declined 1.6% in November ***
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January 11th, 2011 by Belisarius
The Ceridian-UCLA Pulse of Commerce Index rose 2.4% in December after rising 0.4% in November.
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January 11th, 2011 by Belisarius
Down 1.0%. It keeps going down…
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January 11th, 2011 by Belisarius
NFIB Small Business Optimism Index for January was reported at 92.6 vs. consensus of 94.5 and prior reading of 93.2. The index is trending up, but it’s consistent with weak recovery.
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January 11th, 2011 by Belisarius
*** Web Urbanist: The Empty City of Ordos, China: A Modern Ghost Town ***
*** FT BeyondBRICs: Bangladesh stocks: a rollercoaster ride ***
*** FT BeyondBRICs: China bears should look to the skies ***
*** FT BeyondBRICs: Chart: the Chinese renminbi’s hidden descent ***
*** FT Alphaville: The illustrated, erstwhile, safety of senior bank debt ***
*** FT Alphaville: P-p-p-ick up a Portuguese private placement ***
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January 11th, 2011 by Belisarius
The most broad measure of money supply – M2 rose 19.7% YoY in December vs. 19.0% consensus and 19.5% rise in November.
Chinese banks issued CNY 480.8 billion of new loans in December vs. CNY 564.0 billion in November and consensus of CNY 360.0 billion. Total new loans for 2010 reached CNY 7.9 trillion vs. CNY 7.5 trillion annual target.
New loan issuance slowed down in December because banks tried to obey annual targets; Monetary expansion continues.
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