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The Week That Was: August 19th - 23rd 2013

Tyler Durden's picture





 

Succinctly summarizing the positive and negative news, data, and market events of the week...

Positives

  1. US 7yr yield jumps, must be moar rebalancing into equity
  2. Post FOMC results – confusion, but it doesn’t matter, algos run S&P futs up
  3. China PMI has miraculous expansion
  4. Nasdaq breaks, market soars, all is well
  5. Gold breaks above $1,400

 

Negatives

  1. Obamacare is working (and you’re working less) – Forever 21 cuts employee’s to part-time status to avoid the mandate
  2. As the Fed’s monetizing of debt, funding for market investment, credit creation looks to end, banks are not picking up the slack
  3. JCP is burning through cash at a ridiculous pace
  4. WTI plunges, Brent spread widens
  5. Oops: Goldman sends erroneous options trades, will they all get DK’ed?
  6. Bad loans still haunt Spain
  7. DOW hits 7 week low
  8. Emerging Market fx bloodbath, and stocks got hammered
  9. Initial claims rise back to 330k
  10. New home sales dry up, median price falls, and alas, the NAHB still quite confident!

 

Additional

 

(h/t @ZH_Crown)

 


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