Rose to 77.5% in July as industrial production was up 0.9%
Going nowhere at an extremely slow pace–likely one of the main reasons the recovery continues to be so slow and the unemployment rate so high.
Consensus seems to be that Google’s $12.5B acquisition of Motorola Mobility on Monday was primarily made for access to Motorola’s patent portfolio. Motorola has 17,000 patents which will help protect Android “from anti-competitive threats from Microsoft, Apple and other companies” … Continued
In no particular order, an assortment of European Bank price charts over the last 3 years. Click any chart to enlarge.
A primary argument of the deflationists since 2007 has been that aggregate de-leveraging of the US economy is putting downward pressure on prices. It follows that despite how much money is printed in the form of quantitative easing, this de-leveraging … Continued
The preliminary Michigan Consumer Sentiment reading for August came in at 54.9, which is the lowest it has been since 1980. The number is significant for a couple reasons 1) It’s lower than it was during the 08/09 recession 2) … Continued
Retail sales were reported to have risen 0.5% for July over June, up 8.9% year over year. Many cheered the number ex-autos which beat consensus of a 0.3% increase. Economic data is noisy though, despite the fact that even mild … Continued
There was a particularly weak 30 year Treasury auction today, which helped send interest rates higher. Notably the indirect bid, which is typically taken as an indication of foreign interest in a treasury auction, was only 12.2%. This number is … Continued
One of the reasons cited for the stock rally today is that Italy’s 10 year bond yield dropped below 5%. Italian 10 Year Yield This is a level that was considered by many to be unsustainably high and has been … Continued
The Swiss Franc (CHF) is trading sharply lower today against the dollar on news that the Swiss National Bank is considering a “temporary” peg of the currency against the Euro. However, the move shouldn’t be too surprising to the market … Continued