Succinctly summarizing the positive and negative news, data, and market events of the week...
Positives
- Gold surges as COMEX shorts hit 7 month low [11]
- In the new normal, pending war means precious metals and crude oil slide… lower [12]
- Fed indicates that there is just too much housing demand, and too little workers… let’s take a look [13]
- How the market was impacted [14] by a week’s worth of war talk – Confusion is good
- Want $15 dollar fries with that? August non-mfg index surges to 58.6 [15], highest since 2005
- Biggest initial claims beat in three months, however labor costs stagnate [16]
- ECB leaves marginal lending rate unchanged at .5% [17]
- JPY tested 100 again, as the UST curve flattens significantly [18]
- NASDARK black-out odds surge [19]
- WTI is expensive [20], which must be good for EBITDA right?
- What does he know? As he did with sub-prime in 2006-07, Dimon has JPM pulling out of student loans [21]…
- US 10yr breaks 3%, [22] will this lead to a rotation to equities? We propose it may lead to a disorderly exit from risk to cash
- Ze bounce – totally normal move in SPX starting at 10am today [23]
Negatives
- Available for Sale Securities showing unrealized net losses [24] at commercial banks
- The Rupee is collapsing [25]
- Trade deficit widens to $39bn in July [26]
- Goldman’s Stolper stopped out at a loss on EUR/GDP long… again [27]
- Housing affordability plummets [28]
- This indicator of economic activity has completely stalled [29]
- Moar rhetoric required, as Euro bond spreads are blowing out [30]
- Japanese stocks get hammered [31]…
- Careful with those Nobel Peace War plans, as China and Russia own 25% of all foreign owned Treasury Securities [32]
- Stocks tumble [33] on ugly August jobs data (psst, check July’s revision [34]
- Record number of people out of labor force [35]
Additional
- August & YTD performance by asset class [36]
- Here are the senators who voted to start another war in Syria [37]
(h/t @ZH_Crown)
And a little more color from Rodrigo Serrano (of RCS Investments [38])
Weekly Bull/Bear Recap: Sept. 2-6, 2013 [39] by Rodrigo Serrano [40]