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Today's Economic Data Docket - Housing Starts, Many European Headlines
Housing starts and permits for June. As usual, the key driver will be Europe-based headlines. There is a tiny POMO closing at 11 am.
8:30: Housing starts (June): Roughly flat. We expect that new construction activity was about unchanged in June after a 3.5% (mom) increase in May. Both new home sales and the NAHB homebuilder sentiment index have been roughly flat over the last several months.
Starts: GS: Flat; Consensus: +2.7%; Last +3.5%. MAP: 1
Permits: Consensus: -2.3%; Last +8.7%. MAP: 0
11:00: Small $0.5-1.0 billion POMO for bonds maturing 01/31/2013-01/15/2014
19:30: Kansas City Fed President Thomas Hoenig on “Monetary Policy and Agriculture”.
From GS and ZH
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BAC's 8.5 billion loss?
AND WHAT'S THE DIVIDEND THIS TIME?!
1 CENT?
0 ?
Stock dilution?
It's not good to be: A BAC shareholder... HA!
it would appear there was a problem with...Sudden Debt! And the point of government is again? "When we're not hiding it ourselves we're hiding it for...
Or, for the lemmings, lack of news flow can be the key driver as was the case yday. These are fooked up times folks.
Silver having a mild correction from $40.97/oz to $39.82/oz.
The housing start might disappoint so strengthening Ben's case for further QE.
Gold/silver bull trend is still on.
Is it just me thinking that adding homes to a bloated market is a bad thing?
"Don't Hold Your Breath Waiting for Muni Armageddon"
http://finance.yahoo.com/news/Dont-Hold-Your-Breath-Waiting-ms-216062684...
Meredith and Tyler got this one wrong.
True, they are starting to hold unions feet to the fire to cut costs. looks like labor will get thrown under the bus vs. the bondholders.