Job creation breaks 200,000 for a second month in November. Japan looks like its survived Abenomics despite all sorts of dire predictions.
Factory orders fall .9%. GDP blasts expectations at +3.6%, but the devil is in the details. Auto loan credit quality sinks, repo’s jump.
CoreLogic reports higher home prices in October. November vehicle sales jump. Detroit gets the go ahead to file bankruptcy.
Manufacturing hits a 2.5 year high in November. Construction spending is mixed in September and October. A busy economic calendar this week.
Yet another paper blaming economic conditions on restrictive credit, what about jobs, income and a willingness to borrow. Mortgage activity slips.
Earnings season continues more or less as expected. ISM services beats in October. Census reports higher rental vacancies and prices.
SAC Capital goes down hard for insider trading. The lamestream media demonstrates again that it can’t be trusted. Factory orders are mixed.
Stocks finish the week mostly unchanged. Fannie Mae sues the banks over LIBOR manipulation. John Hussman has a must read article available.
Chicago PMI jumps 10.2 points in October. Rabobank pays 1.1 billion to settle LIBOR rigging charges the CEO resigns but nobody goes to jail.
CPI slips again. ADP employment report misses. Mortgage activity jumps 9%. Debt service and financial ratios are at nearly 30-year lows.