Conference Board Consumer Confidence For June At 52.9
Conference Board consumer confidence came out at 52.9 vs. 62.5 consensus and 63.3 reading for May. Ugly looking number. Chart 1. Conference Board Consumer Confidence
Archive for June 29th, 2010
S&P/Case-Shiller Home Price Indexes Unexpectedly Rose in April
S&P/Case-Shiller HPI 10 city composite rose 0.7% in April; S&P/Case-Shiller 20 HPI composite rose 0.8% in April. Complete surprise, but it will not affect nobody’s expectations as the indexes are lagging three month averages. Chart 1. S&P/Case-Shiller Composite 10 Chart 2. S&P/Case-Shiller Composite 20
Chicago Fed National Activity Index For May At 0.21
Could not post this yesterday, because of problems at my hosting service caused disruption in Tainted Alpha Blog avilability. My apologies for that. Chicago Fed national activity index is one of the indicators that correctly predicted this ongoing recession. For May it was reported at 0.21, given its positive reading it is not pointing to a double-dip (jet). The next month […]
Nouriel Roubini: Greece’s Best Option Is An Orderly Default
I’ve argued the same thing repeatedly. Financial Times Opinion: Greece’s best option is an orderly default. It is time to recognise that Greece is not just suffering from a liquidity crisis; it is facing an insolvency crisis too. Rating agencies have started to downgrade its public debt to junk level, while spreads on Greek sovereign bonds […]
John P. Hussman Of Hussman Funds On Recession Odds
John P. Hussman of Hussman funds put’s in more words than I, but in principle I couldn’t agree more. It’s a brilliant article, a must read. Recession Warning by John P. Hussman of Hussman funds (www.hussmanfunds.com). Reinhart and Rogoff observe that following systemic banking crises, the duration of housing price declines has averaged roughly six […]