Moving the Goalposts: Fugly NFP
The Human capacity for self-delusion never ceases to amaze. If you ever hear me spouting the same sort of $%#* I heard on CNBC at 8:31am,...
Brace Yourself: Its NFP Day!
There seems to be some buzz about this month’s NFP Job Data building — although new unemployment claims came in the same as...
Housing by the Numbers
What a difference a year makes: Housing by the numbers Housing Stat Year Over Year Change Builders’ sentiment -52.2% New-home sales...
Payroll Employment: The Home Game
Here’s a fun thing to do between now and Friday’s NFP data: You can play Payroll Employment: The Home Game: "Every month...
Consumer Confidence and Commodity Weakness Heralding An...
The data keeps coming, and its getting harder for the perma-bulls to rationalize the information. Earlier in the month, University of...
About Those Earnings . . .
One of the main Bullish arguments has been that very strong Earnings are not signalling a major slowdown. I find that argument...
Why Don’t Big Housing Sales Drop Produce Big Price Drops?
Marketbeat observes "one puzzle about yesterday’s existing-home-sales data from the National Association of Realtors is that,...
Does the Bond Market Have it All Wrong?
I have been fond of saying that the equity traders are the hormonal teenagers of the capital markets (traders think of markets as a daily...
The Car Dealer Doldrums Indicator
What are Car-Sales Saying About a Recession? According to Floyd Norris of the NYT, potentially alot. In his column in today’s...
Mutual Funds Cash Levels
When a few people email the same question, it makes me wonder what the basis of the story might be. Yesterday, several emailers noted...