Mortgage activity slips as rates increase. The Dollar retains its reserve currency status as there is no real alternative. Volker rule DOA?
Inventories continue to rise. Household net worth hits a new record high and mortgage debt increases, is the balance sheet recession over?
Is it really different this time? John Hussman has a new piece out looking at market valuations and concludes that it isn’t.
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.
New home sales surge but prices fall for a 4th month. October trade deficit falls as mortgage activity last week. ADP payrolls +215,000.
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.