The Week That Was: July 29th – Auguest 2nd 2013

Succinctly summarizing the positive and negative news, data, and market events of the week…

Positives

  1. Nikkei continues to whipsaw, the more confusion the better in the new normal
  2. Happy days are here again: Rent backed securities have arrived
  3. Great news! We’re all richer, promise
  4. Chicago PMI ticks up from June, for all the wrong reasons
  5. Confused? Good. FOMC says they are prepared to increase or decrease purchases.
  6. Weekly initial claims best in three months
  7. Bonds cheapest to stocks in two years
  8. July Manufacturing ISM hammers expectations
  9. SPX hits 17 hundo

 

Negatives

  1. Consumer confidence drops for first time in 5 months
  2. JPM has racked up $7bn in fines in the last two years
  3. Home ownership rate is at an 18 year low
  4. If Europe is fine, why is Deutsche Bank deleveraging?
  5. Mortgage applications continue to fall
  6. Domestic car sales drop most in 9 months
  7. What would rising rates mean to the “credit = growth” crowd if this correlation holds?
  8. Factory orders miss again
  9. July non-farm payrolls come in at 162k vs 185k expected (and people not in labor force ticks back up)

 

Additional

 

(h/t @ZH_Crown)

    

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