Global Macro Perspectives
(For August 2010) FHFA Purchase Only House Price Index rose 0.4% in August. Housing index data is complete now, feels slightly negative but nothing alarming. Chart 1. FHFA Purchase Only House Price Index vs. CoreLogic Home Price Index, Radar Logic Composite 25 – 28 Day, S&P/Case-Shiller Home Price Index – Composite 20
(For October 2010) Richmond FED Manufacturing Survey came out today at 5. The consensus was at 1.0, prior reading at -2. We could probably see improved ISM manufacturing reading for October. Chart 1. ISM vs. Richmond Fed and Regional Manufacturing Surveys
(For October 2010) Conference Board consumer confidence came out at 50.2 vs. 49.9 consensus and 48.6 revised reading for September. Chart 1. Conference Board Consumer Confidence
No recovery in sight, but also the price declines are not worrying (jet). Chart 1. U.S. House Price Indexes
(For August 2010) Seasonly adjusted S&P/Case-Shiller HPI 10 city composite fell 0.2% In August; On year level 10 city index is up 2.5%. Chart 1. S&P/Case-Shiller Composite 10 Seasonly adjusted S&P/Case-Shiller HPI 20 city composite fell 0.3%; On year level 20 city index is up 1.7%. Chart 2. S&P/Case-Shiller Composite 20 This is three month rolling average for […]
Bloomberg story: Treasury Draws Negative Yield for First Time During TIPS Sale. The Treasury sold $10 billion of five-year Treasury Inflation Protected Securities at a negative yield for the first time at a U.S. debt auction as investors bet the Federal Reserve will be successful in sparking inflation.