EconomPic
Thursday, August 5, 2010

Job Postings on the Up and Up

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Indeed (via Infectious Greed ): Our July Industry Employment Trends show year-over-year job posting growth in 1 out of 12 industries. Trans...
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Hedge Funds Snap Back in July

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Source: Barclay Hedge
Wednesday, August 4, 2010

Yield Wins in the Long Run

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WSJ (hat tip Abnormal Return s): Bonds continue to trounce stocks, sending mixed signals to investors and raising the question: Are stocks ...
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Services Industry Expands in July

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ISM details: "Our business conditions continue to dramatically outpace last year's." (Information) "Although unemploymen...

ADP Report: Employment Rebound Remains Tepid

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ADP details: Nonfarm private employment increased 42,000 from June to July 2010 on a seasonally adjusted basis, according to the ADP Nation...

European Consumption Stagnant

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Bloomberg details: European retail sales were unchanged in June as households reduced spending in Germany and France. Sales in the 16-natio...
Tuesday, August 3, 2010

The Changing Auto Sector

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In looking at auto sales by major manufacturer, the results were rather striking as Hyundai Kia 's growth led to total sales which have ...

IBM Borrows on the Cheap

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Bloomberg details: International Business Machines Corp. raised $1.5 billion at the lowest interest rate on record as the credit rally that...

Personal Savings on the Rise

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Peter Boockvar (via The Big Picture ) with the details: The Savings Rate is now approaching the 50 year average of 6.9% and will very likely...

Personal Income... A Matter of Wages

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Marketwatch details: The savings rate among U.S. households rose to the highest level in a year in June as income and spending were flat, t...
Monday, August 2, 2010

Is the German Economy Booming? No...

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The Globe and Mail reports: While the rest of Europe is just beginning to crawl out of crisis and into the first tentative rays of growth a...
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ISM Manufacturing Growth Slows

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ISM respondents report: "Business in July was strong, the best month since October 2008." (Fabricated Metal Products) "Slow ...

Real GDP per Capita at September 2005 Level

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Even after the "recovery", real GDP per capita is still 3% below the level seen December 2007 or roughly the level of real GDP per...
Sunday, August 1, 2010

Brakes Put on the Chinese Economy

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Bloomberg details: China’s manufacturing grew at the slowest pace in 17 months in July as the government clamped down on property speculati...
Friday, July 30, 2010

EconomPics of the Week (7/30/10)

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Economic Data U.S. Great Recession was Worse than Thought GDP Growth Slows... Spike in Business Investment Q1 GDP Revised Up One Full Point ...
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Great Recession was Worse than Thought

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I detailed that Q1 GDP was revised up one full point ... great news right? Not when past quarters have been revised down. Per Calculated Ris...
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Q1 GDP Revised Up One Full Point

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Changes to Q1 were extremely broad since the numbers went "final" a month back, GDP jumped a full point from 3.7% to 2.7% due to a...

GDP Growth Slows... Spike in Business Investment

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Bloomberg details: Growth in the U.S. slowed to a 2.4 percent annual rate in the second quarter, less than forecast, reflecting a larger tr...
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Thursday, July 29, 2010

End of the World Trade Unwind

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High beta trades have done extraordinarily well in July as apparently the world wasn't ending . What happens now will be interesting... ...
Wednesday, July 28, 2010

Earnings Season has Been Strong

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Bespoke Investment Group (hat tip Abnormal Returns ): S&P 500 stocks have been beating earnings estimates at a much higher rate. Throug...
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Durable Goods Off

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ABC News details: New orders for long-lasting U.S. manufactured goods unexpectedly fell for a second straight month in June, posting their ...
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Tuesday, July 27, 2010

Consumers Getting Realistic

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The Conference Board details: Says Lynn Franco, Director of The Conference Board Consumer Research Center: “Consumer confidence faded furth...
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Home Prices Jumped in May... Test Comes Next Month

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Reuters details the jump in May, but the test comes in June post-tax credit: U.S. single-family home prices rose more than expected in May,...
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Monday, July 26, 2010

Got Yield?

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A month back I detailed that the aggregate bond index (i.e. the Barclays Capital Aggregate made up mainly of Treasuries, Corporates, and A...

Chicago Fed Details a Slowing Economy

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Chicago Fed details: The index’s three-month moving average, CFNAI-MA3, decreased to –0.05 in June from +0.31 in May. The CFNAI-MA3 suggest...
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Sunday, July 25, 2010

Japanese Exports Halfway There

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Bloomberg details: Japan’s exports rose faster than economists estimated, sustaining a boost to the economic recovery that may diminish as ...
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Friday, July 23, 2010

Europe's Pecking Order

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Interesting stuff in the stress test results, outside of the results themselves. An example... the valuation haircuts used in the stress tes...
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The British are Coming... Back

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Bloomberg details: The British economy grew at the fastest pace in four years in the second quarter and German business confidence surged ...
Thursday, July 22, 2010

Leading Indicators... More Fed Please

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Bloomberg details: The index of U.S. leading indicators fell 0.2 percent in June, the second decline in three months, signaling the world’s...

Existing Home Sales Under Pressure

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CNN Money details: The National Association of Realtors reported that existing home sales fell last month to a seasonally adjusted annual r...
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Signs of Life in Europe

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Marketwatch details: The European Union statistics agency Eurostat said May industrial orders across the euro zone rose 3.8% compared to Ap...
Sunday, July 18, 2010

EconomPics of the (Traveling) Week

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The lack of posting (with the potential for some delayed posting) will continue through Wednesday as I am traveling (not work related for on...
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Thursday, July 15, 2010

More on Contango

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FT Alphaville with a great post "Is ‘cash for commodity’ the biggest trade in town?" explaining why commodity curves are in conta...
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Producer Prices Moderating

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The decline in month over month PPI Has fed into moderation of the year to year final goods figure Source: BLS
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Empire State Manufacturing Slumps

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This is just one month of data, but this is an ugly report for those expecting a strong recovery. Of note... employment (slowing growth in n...

Industrial Production Blips Higher

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BusinessWeek details: Industrial production in the U.S. unexpectedly rose in June as higher temperatures across the nation led to increased...
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Wednesday, July 14, 2010

Chinese Economic Growth Slows... to 11.1%

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Bloomberg reports that Chinese economic growth "eased" to 11.1% in the first half (must be nice) and inflation cooled. In other n...

Retail Sales: Small Purchases Up. Large Purchases Down.

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The WSJ details: U.S. retail sales tumbled a second straight time in June, falling more than expected in a sign consumer spending is slowin...
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Tuesday, July 13, 2010

On the Relationship Between Earnings and Yield

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Trader's Narrative (hat tip Abnormal Returns ) has an interesting piece from Wayne Waley ( CTA ) about the relationship between S&...
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Budget Deficit: Going for Broke

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The Good = An Improvement BusinessWeek details: The U.S. government posted a smaller budget deficit in June compared with the same month la...

Trade Imbalance Back

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Marketwatch details: The U.S. trade deficit widened to the highest level in 18 months in May as imports and exports alike bounced back afte...
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Small Businesses - Still Feeling the Pain

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The WSJ details: The National Federation of Independent Businesses said its Small Business Optimism Index dropped 3.2 points to 89.0 last m...

UK CPI in Check

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UK inflation was an area of my focus due to the large depreciation of the Pound, importance of the banking sector in the overall economy, an...
Friday, July 9, 2010

EconomPics of the Week (7/9/10)

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I’m going to claim a solid week at EconomPic . I liked my posts (especially considering the shortened week / loads of travel) and made some ...
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How is Spending Still Strong?

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Since Lehman collapsed in September 2008, consumption has remained surprisingly strong in the face of high unemployment (thus lower wages), ...
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Bron Bron... a Go Go

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After seeing one of the most surreal letters imaginable from a boss to a former employee (in this case Cavs owner Dan Gilbert to NBA super...
Thursday, July 8, 2010

Consumer Credit Freefall

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BusinessWeek details: Consumer borrowing in the U.S. dropped in May more than forecast, a sign Americans are less willing to take on debt ...
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