Wednesday, March 26, 2014

Morning Journal---What the copper/gold ratio is telling us

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly dales of major retailers fell 1.5% versus the prior week but rose 1.7% on a year over year basis; Redbook research reported month to date retail chain store sales up 3.1% versus the comparable period a year ago.

            The January Case Shiller home price index increased 0.8% versus expectations of +0.7%.

            February new home sales dropped 3.2% versus estimates of a decline of 5.9%

            March consumer confidence came in at 82.3 versus forecasts of 78.4.

            The March Richmond Fed manufacturing index was reported at -7 versus consensus of +3.

                Weekly mortgage applications fell 3.5% while purchase applications rose 3.0%.

                February durable goods orders increased 2.2% versus consensus of +1.0%; however, ex transportation, orders were up 0.2% versus expectations of +0.4%---plus the January report was revised down.

   Other

            More on too big to fail banks (medium):

            What the copper/gold ratio is telling us (short and today’s must read):


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