Succinct Summation of Week’s Events

January 28, 2011 4:00pm by

Positives

1) Q4 Real final sales solid
2) Consumer confidence jumps, answers to job market questions improve
3) Pending home sales and new home sales bounce (but we don’t need new ones right now)
4) Germany consumer confidence at best since Oct ’07
5) EFSF sale of 5b euros hugely successful
6) DJIA close above 11,872 would be 9th week in a row of gains, 1st time since ’95

Negatives

1) Real and Nominal GDP below forecasts, low deflator makes Real look better
2) Durable goods orders below expectations (but Nov revised up and core cap ex good)
3) Inflation expectations in UoM hit highest since Oct ’08
4) S&P/CS home price index falls to 8 month low
5) Japan called out by S&P as nation chokes on debt with no plan
6) UK consumer confidence near 2 yr low, Q4 GDP unexpectedly contracts
7) German import prices rise at fastest pace since ’81
8) Egypt erupts
9) Fisher and Plosser roll over for King Dove Bernanke

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