Succinctly summarizing the positive and negative news, data, and market events of the week...
Positives
- May durable goods orders beat expectations [3]
- Fed’s Open Mouth Operation [4] helps lift equities
- Jon Corzine sued, however somehow only civil suit [5]
- Gold dips below 1,200 [6]… good for stocks right?
- U.S. 7yr auction [7] smoother than the 5yr
- Record bond fund redemptions [8] mean the ‘Great Rotation’ has started right? Not so fast
Negatives
- European stocks hit seven month lows [9], and their banks enter a bear market
- Shanghai Composite struggles [10] as credit crunch continues to threaten
- 30yr Mortgage rate jumps [11], should help (un)affordability
- AAPL stocks, and bonds, struggle [12]
- Japanese equities & gold get crushed [13]
- U.S. 5yr auction [14] prices at 1.484%, BTC dips to 2.45, below TTM
- Mortgage applications collapse [15]
- U.S. Q1 GDP revised [16]
higherlower - European household lending is flat out ugly [17]
- U.K. disposable income [18] drops in Q1
Additional
- Confused? No worries, the mainstream media will explain [19]
(h/t @ZH_Crown)