Succinctly summarizing the positive and negative news, data, and market events of the week...
- March consumer spending rises, but look at what they spent it on
- At least someone has a backlog: Gun manufacturer Sturm, Ruger's backlog jumps
- Home prices rise 9.3% YOY -- how's that non-seasonally adjusted number look?
- Apple has record $17 billion bond offering, when's the next one?
- #Timestamp: Equities completely ignore awful macro data, continue to set new highs
- US April manufacturing index prints 50.7, and is not yet contracting!
- Fed is prepared to increase or reduce purchases - said another way, they've got your back
- The ECB cut rates, which using today's logic, means that demand will pick up any minute now
- Initial jobless claims come in well below expectations, & trade deficit narrows in March
- SPX hits all time highs, and oil spikes – here’s a look under the hood
- Non-Farm Payrolls beats majestically – but the hours worked suggests anything but economic improvement
- Dow 15,000 and S&P 500 1,600 – must be good
- U.S. & Euro Area savings rates plummet
- A crack in the dam? Sallie Mae cancels $225MM bond offering after investors demand more yield
- Dallas Fed's manufacturing index implodes in April, posts worst miss on record
- Symantec Flash-Crash destroys over $1.5 billion in less than a second
- Chicago PMI falls to 49, just your average 3.5 year low
- US home ownership rate drops to 1995 levels
- Treasury issues draft floating rate note term sheet -- those not familiar should catch up here
- April ADP misses
- Crude inventories at record highs, as energy demand falters
- Participation rate still at 1979 levels
- Factory Orders and ISM Service miss large
- Jim O'Neill's farewell letter
- QBAMCO pens an interesting note on a potential conversion of the global monetary system
- With $72.8 trillion in gross notional, here is the bank with the largest derivative exposure in the world
- Short equities on POMO days? Here's how to not be 'that guy'
- Arizona becomes second state to make gold & silver legal tender