Economics
This Week’s Data
The
International Council of Shopping Centers reported weekly sales of major
retailers fell 1.7% versus the prior week but rose 1.0% versus the comparable
period last year; Redbook Research reported month to date retail chain store
sales up 2.6% on a year over year basis.
February
durable goods orders were up 5.7% versus expectations of an increase of 3.6%;
ex transportation, the number was up 0.5% versus estimates of up 0.7%.
The
January Case Shiller home price index advanced 1.0%, in line with forecasts.
February
new home sales fell 4.6% versus an anticipated drop of 2.7%.
The
March Conference Board consumer confidence index plunged to 59.7 from
February’s reading of 69.5.
The
March Richmond Fed’s manufacturing index was reported at 3.0 versus
expectations of 5.5.
Weekly
mortgage applications rose 7.7% while purchase applications were up 7.0%.
Other
The
latest from Gary Shilling (medium):
A
primer on the derivatives market (medium and today’s must read):
Global
financial stress rises (short):
***overnight,
Italian industrial and retail sales came in well below expectations.
Politics
Domestic
Update on the
student loan debacle (medium):
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