From the monthly archives:
We just got the latest new home sales figures for the month of December. Here’s what they showed:
* New home sales dropped 7.6% to a seasonally adjusted annual rate of 342,000 from an upwardly revised 370,000 in November. That missed expectations for a sales rate of 366,000, and it leaves sales at the lowest level [...]
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Earlier this morning, I published a piece predicting that the Fed under “Helicopter” Ben Bernanke won’t tighten rates until the cows come home.Today’s jobs report only underscores my certainty in this matter.
The currency and bond markets are getting the message loud and clear, with breakouts, breakdowns, and crazy activity visible all over the place. A [...]
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The December jobs report was disappointing, with the economy shedding 85,000 jobs against expectations for an unchanged reading. November’s reading was revised to +4,000 from -11,000. But the unemployment rate held at 10%, which has to be disappointing, and the separate household survey showed a nasty loss of 589,000 jobs.
Some slight positives: Average hourly earnings [...]
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The National Association of Realtors came out with its pending home sales data for November a little while ago. Here’s what the numbers looked like:
* Pending sales plunged 16%. That compared with an expected decline of 2%. Yikes!
* On a year-over-year basis, the pending sales index actually rose 15.5% to 96 from 83.1.
* Regionally, sales [...]
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