Succinct Summation of Week’s Events (11/15/10)


1) UoM confidence rises to 5 month high
2) Initial Jobless Claims 4 week avg falls to lowest since Sept ’08
3) NFIB small business optimism index rises almost 3 pts to best since May
4) Wholesale Inventories jump more than expected, good for GDP
5) Global criticism of Fed’s money printing exercise


1) Consumer 1 yr inflation expectations rise to 3%, most since June
2) 30 yr bond auction very weak, yield rises to 5 month high, 10 yr yield at two month high, avg 30 yr mortgage rate rises to one month high, has Fed lost QE2 war before it really began?
3) Chinese stocks slammed on inflation and rate hike fears
4) PIG debt blowing out, Spain and Italy also see rise in yields, pressure for Ireland to tap EFSF grows
5) From equity contrarian view, individual investor’s most bullish since Jan ’07
6) Wholesale Inventories rising, unwanted inventory?
7) CSCO disappoints, co specific or not?

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