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March 31, 2011
Housing Starts Total Housing Starts (SA) Total Housing Starts (NSA) Single-family Housing Starts (SA) Multi-family Housing Starts (SA) Single-family Housing Starts (NSA) Multi-family Housing Starts (NSA) Building Permits Total Building Permits (SA) Total Building Permits (NSA) Single-family Building Permits (SA) Multi-family Building Permits (SA) Single-family Building Permits (NSA) Multi-family Building Permits (NSA) Mortgage Rates Total… Continue reading Untitled
Charts of the Week
Untitled
March 30, 2011
Conference Call Presentation/Charts of the Week Topics Covered This Week Include: Summary/Highlights Is QE2′s Purpose To Create A Stock Market Bubble? Stocks Love QE2 How Much Stimulus Is Left Before June 30th? Did The G-7 Panic About The Carry Trade? Do We Have Systemically Significant Positions? Why Is The Market Rallying? Why Is The Market… Continue reading Untitled
Newsclips
Muni Seasonality?
March 30, 2011
The Wall Street Journal – April Won’t Be Cruelest for Muni Investors April is typically a selling season for municipal bonds. This year it may be better to buy. The muni market often hits a soft patch around tax time as investors liquidate holdings to raise cash to pay Uncle Sam. That weakness could be… Continue reading Muni Seasonality?
Newsclips
What Happens When The Federal Reserve Exits The Markets?
March 30, 2011
The Financial Times – Can bonds survive the Fed’s exit? Many investors fear that the Fed’s impending exit from QE2 will have a very damaging effect on the financial markets. Whether they are right will depend on the nature of the exit, and its impact on bond yields. An end to the Fed’s programme of… Continue reading What Happens When The Federal Reserve Exits The Markets?
Newsclips
Home Prices
March 30, 2011
<Click on chart for larger image> Real Time Economics (WSJ Blog) – A Look at Case-Shiller, by Metro Area (March Update) The S&P/Case-Shiller Composite 20-city home price index, a broad gauge of U.S. home prices, posted a 1% drop in January from a month earlier and fell 3.1% from a year earlier, as the housing… Continue reading Home Prices
Newsclips
State Budgets
March 30, 2011
The Wall Street Journal – Tax Revenue Snaps Back State and local tax revenue has nearly snapped back to the peak hit several years ago—a gain attributed to a reviving economy and tax increases implemented during the recession. But the improvement masks deeper problems for state and local governments that are likely to linger for… Continue reading State Budgets
Newsclips
Ben Bernanke vs. Ben Graham
March 30, 2011
The Wall Street Journal – Investment Strategy: All About the Benjamins Two disparate views of markets represent well the range of opinion among U.S. stock market participants today. One is a devout faith in market efficiency and the supremacy of market pricing as a reflection and forecast of fundamental value. The other expects errors and… Continue reading Ben Bernanke vs. Ben Graham
Newsclips
The Carry Trade
March 30, 2011
The Financial Times – Lex: Yen carry trade: not back yet For years, nothing was safer in the currency world than to bet against the yen, and park the proceeds in the Australian dollar. Since March 17, when the yen touched an all-time nominal high against the US dollar, there has been a reprise. Anyone… Continue reading The Carry Trade
Newsclips
Headline vs. Core Inflation
March 30, 2011
Bloomberg.com – History Backs Bernanke Betting Volatility Variable Won’t Hurt Federal Reserve Chairman Ben S. Bernanke is betting that surging prices for food and fuel won’t wind up breaking the cost of living for Americans. The historical record shows the odds are in his favor. The Fed watches two key measures of inflation, known to… Continue reading Headline vs. Core Inflation
Newsclips
Save The Euro!
March 30, 2011
Bloomberg.com – Matthew Lynn: Losing Euro in Defaults Brings No Threat to EU It will be objected that the euro has to be preserved to keep the European Union together. That will certainly be the standard line from the Brussels- based elite during the next few years. Indeed, it was heard frequently during the trillion-dollar… Continue reading Save The Euro!
Newsclips
The Debt Ceiling
March 30, 2011
The Wall Street Journal – Marco Rubio: Why I Won’t Vote to Raise the Debt Limit Our generation’s greatest challenge is an economy that isn’t growing, alongside a national debt that is. If we fail to confront this, our children will be the first Americans ever to inherit a country worse off than the one… Continue reading The Debt Ceiling