August Chicago Purchasing Managers Index At 56.5
Chicago Purchasing Managers Index was reported at 56.5. Consensus was at 53.3, prior reading at 58.8.
Archive for August, 2011
August Challenger Job-Cuts At 51,114
Challenger’s count of layoff announcements was reported at 51,114 in August vs. 66,414 in July.
ADP Employment Rose 91,000 In August
ADP Employment rose 91,000 in August vs. revised (down 5,000) gain of 109,000 in July.
FOMC Minutes – August 30, 2011
Looks like we have some eager FOMC members, so I suspect that we will have a serious discussion on QE 3 during the next FOMC meeting which will be held on 20th and 21st September.
Video Of The Day: ECRI’s Achuthan: “No Upturn Yet…More Weakness” Ahead, But Jury Still Out on Recession
The Daily Ticker: ECRI’s Achuthan: “No Upturn Yet…More Weakness” Ahead, But Jury Still Out on Recession.
August Conference Board Consumer Confidence At 44.5
Conference Board consumer confidence came out at 44.5 vs. 52.0 consensus and 59.5 reading for July.
Lowest since April 2009. Massive negative surprise.
S&P/Case-Shiller 10 City Composite HPI Unchanged In June
Seasonly adjusted S&P/Case-Shiller HPI 10 city was unchanged in June; On year level 10 city index is down 3.9%.
Daily Reading – Tuesday, August 30, 2011
*** Gavyn Davies: No blueprint from the “big three” at Jackson Hole ***
*** FT Alphaville: Bill Gross has something to say ***
*** FT Alphaville: Inter-company, intra-state Chinese lending ***
*** the Atlantic: Square, the iPhone Credit Card Machine, Goes Mainstream ***
*** Gawker: Tim Cook: Apple’s New CEO and the Most Powerful Gay Man in America ***
Tanker Weekly – August 29, 2011
Baltic Dirty Tanker Index rose 0.6%; Baltic Clean Tanker Index was unchanged.
High volume of fixing, but supply more than enough to cover the demand.
U.S. Personal Income Rose 0.3% In July; U.S. Consumer Spending Rose 0.8%
U.S. personal income rose 0.3% in July vs. 0.3% consensus and 0.2% rise in June (revised up 0.1%). On y-o-y level personal income is up 5.3%.
Dry Bulk Weekly – August 29, 2011
Baltic dry index rose 5.4% last week; Capesize Index was up 5.7%; Panamax Index rose 2.6%; Supramax Index was up 3.7%; Handysize Index rose 2.9%.
My feeling is that the rate increases are mostly sentiment driven and not backed by supply and demand fundamentals.
Iron ore inventory at new all time high, price edging up; Steel inventory and price stable; Coal inventory and price also stable.
Bernanke Jackson Hole Speech – A Big Nothing
In short – A big nothing
U.S. Q2 GDP Growth Second Estimate At 1.0%
U.S. Q2 GDP growth second estimate was reported at 1.0%; prior estimate was at 1.3%; consensus was at 1.1%. Q1 2011 reading was at +0.4% .
Tainted Alpha Second Anniversary
Two years have passed.
U.S. Initial Jobless Claims At 417.000; Up 5.000
Initial jobless claims in the U.S. were reported at 417.000 vs. 405.000 consensus and last week revised (up 4.000) reading of 412.000.