Succinct Summations for the week ending April 24th, 2020
1. Despite everything going on, markets found their footing + some stability.
2. Jobless claims fell 810k w/o/w (lol “a positive”)
3. FHFA house price index rose 0.7% m/o/m, above the expected increase of 0.4%.
4. Kansas City Mfg Index is at -30 in April, above the expected -33.
5. Consumer sentiment is at 71.8 for April, above the expected 68.0.
1. The latest crowd of idiots, hellbent on self-destruction have gone public, endangering themselves, which is fine, and everyone else, which is not.
2. 4.4 million new unemployment benefit claims;
3. Durable goods orders fell 14.4%, below expectations;
4. Existing home sales fell 8.5% m/o/m
5. New home sales fell to an annual rate of 627k from 741k.
6. Same sale stores fell 6.9% w/o/w