The Week That Was: May 27th - May 31st 2013

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


  1. Conference Board’s consumer confidence survey surges in May, 10yr spikes
  2. Case-Shiller home prices surge in March, ironically led by the same states that fueled the last bubble
  3. Richmond Fed Mfg beats expectations, however new orders plunge
  4. NYSE Margin Debt reaches all-time high, this should end well
  5. Dow continues its streak, now 20-20 on Tuesdays
  6. The next crisis is already contained! Sallie Mae splits, with the intent on containing looming student loan bubble
  7. Q1 US GDP revised down again , and initial claims jump (all news is now good news, as we all know)
  8. US shrugs off weak 2yr auction, sees stronger 7yr $29bn dollar auction
  9. UMich Confidence reaches 6 year high but spending slumped?
  10. Chicago PMI smashes expectations (didn’t work out so well last time)



  1. JGB’s define ‘volatile’, exhibit 3 sigma price drop
  2. This is NOT how you help cash flow Larry: Pensions being hit by ZIRP policy
  3. ~60% of the S&P’s earnings since Q3 2011 have been due to CapEx & positive growth projects buybacks
  4. Weak US 2yr auction, as US sells $35bn with BTC hitting a two year low
  5. Crude oil drops on heavy volume
  6. Cyprus bank deposits fall, but don’t tell Krugman
  7. Japanese equities down, bond prices spike
  8. Asset allocation of Japanese Public Pension Fund has the fund 64% in JGB’s
  9. Demand for physical delivery of copper on LME soar to new record
  10. Income and Spending data considerably worse than expected
  11. European unemployment hits record high (and youth unemployment is stunningly bad)
  12. Mortgage rates rise to one-year highs
  13. US equities plunge into month-end



(h/t @ZH_Crown)


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