Succinctly summarizing the positive and negative news, data, and market events of the week…
- Nikkei continues to whipsaw, the more confusion the better in the new normal
- Happy days are here again: Rent backed securities have arrived
- Great news! We’re all richer, promise
- Chicago PMI ticks up from June, for all the wrong reasons
- Confused? Good. FOMC says they are prepared to increase or decrease purchases.
- Weekly initial claims best in three months
- Bonds cheapest to stocks in two years
- July Manufacturing ISM hammers expectations
- SPX hits 17 hundo…
- Consumer confidence drops for first time in 5 months
- JPM has racked up $7bn in fines in the last two years
- Home ownership rate is at an 18 year low
- If Europe is fine, why is Deutsche Bank deleveraging?
- Mortgage applications continue to fall
- Domestic car sales drop most in 9 months
- What would rising rates mean to the “credit = growth” crowd if this correlation holds?
- Factory orders miss again
- July non-farm payrolls come in at 162k vs 185k expected (and people not in labor force ticks back up)
- Bank of England helped Reichsbank sell Nazi gold
manipulatedrevised GDP by component
- Dylan Grice is back with a piece on the intrinsic value of gold
- YTD returns by financial asset
- Paul “Elliott Management” Singer clarifies a few things