Actual, not seasonally adjusted (NSA), nonfarm payrolls rose by 1.15 million in April to a total of 138.3 million. This is better than April’s 10…
The advance number of actual initial claims under state programs, unadjusted, totaled 317,184 in the week ending April 26, an increase of 18,002 (or 6.0…
There’s no law that says the stock market can’t have a major correction when central banks are pumping money into the system via the Primary…
The actual, not seasonally adjusted number of contracts for the sales of existing homes rose by 33% in March versus the February level. This is…
The advance number of actual initial claims under state programs, unadjusted, totaled 297,870 in the week ending April 19, a decrease of 20,923 (or -6.6…
I saw the great numbers on Industrial Production (IP) the other day and wondered what the heck is going on. So much of the data…
The mainstream media dutifully reported a 2.8% gain in the headline seasonally adjusted number for housing starts. It was just another example of how misleading…
It tells a story about the success of QE in making stock market speculators rich, but as for everyone else, not so much.
The composite liquidity indicator surged to another new high last week. That was not enough to stop a sharp selloff in stocks. But when the Fed’s monthly MBS purchase settlements began on April 10, that stopped the bleeding. While there have been a number of ominous technical signals in the charts of stock prices and cycle indicators, strictly on the basis of the liquidity trend, I am forced to conclude that this was just another instance of the dealers shaking out some inventory before marking them up and distributing them again.
Yes, the economy is doing so well that, in the coming final day of the Fed’s staged withdrawal from QE, the Fed’s choppers will leave…