U.S. New Home Sales Fell 12.4% In July
U.S. new home sales fell 12.4% in July to 276.000 SAAR, the consensus was at 340.000 SAAR, prior reading (revised downward 15.000) was at 315.000 SAAR. Chart 1. U.S. New Home Sales SAAR
Archive for August 25th, 2010
Durable Goods Orders Fell 0.3% In July
Durable good orders fell 0.3% in July vs. +2.5% consensus and -1.0% decrease in June. Transportation taken out the figure was a decrease of whopping -3.8% vs. -0.6% fall in June. This is game changing report, it was obvious that consumer demand was weakening and housing is cratering, now we have confirmation that investments are also falling. Big miss […]
MBA Mortgage Applications Up 4.9%
(Week Ending August 20, 2010) MBA mortgage applications rose 4.9% for week ending August 20, prior reading was an increase of 13.0.%. Refinance index rose 5.7%; Purchase index rose 0.6%. No buyers in sight. Chart 1. MBA Mortgage Applications
Tainted Alpha First Anniversary
Time passes so fast. Today marks one year since my first post (The World Today) was released. It has been a troublesome year both for the markets and for me. In meantime I have changed firms and I have to say (despite hardship in the process) it worked out great. 652 posts later I have to […]
The Hindenburg Omen Confirmed For Third Time
Just to note…the Hindenburg Omen has been confirmed for third time. It reoccurs quite often in the last couple of weeks which is quite unusual, but I suspect this is a product of (strangely) high market correlation. Chart 1. CBOE S&P 500 Implied Correlation Index
Irish – German 10 Year Government Bond Yield Spread Widens To Record High
After Standard & Poor’s cut Ireland credit rating down one notch from AA to AA- (with negative outlook) the Irish – German 10 year government bond yield spread widened to record high 330 bps. Bloomberg story on Ireland downgrade: Ireland’s Credit Rating Cut by S&P on Costs of Bank Aid. Chart 1. Irish – German 10 Year Government Bond […]