Daily Archive: Tuesday, January 29, 2008

FOMC preview

My guess is the GDP forecast the Fed is now getting from it’s staff is not a downgrade from previous forecasts, and may even be an upgrade due to: The blowout durable goods numbers The drops in claims following the high unemployment number The private forecasts on average show 65,000 new jobs ...Read More

Crude just traded over $92/barrel

The markets and the Fed now look at higher crude as evidence of higher demand. ♥ ...Read More

ISM revised upward

Seems most of Q4 was revised up, and Q3 as well. TABLE-U.S. ISM non-manufacturing index revised to 54.4 in Dec (Reuters) The Institute for Supply Management on Tuesday released annual seasonal adjustments to some of its monthly non-manufacturing indexes. REVISIONS Dec Nov Oct Sept Aug July June May Apr Mar Feb Jan ...Read More

Inflation expectations update

As of 1pm today – this is what the Fed is looking at for today’s meeting. Most say if you let expectations elevate it’s too late. Others think they can be allowed to elevate a little bit and then brought down. ♥ ...Read More

2008-01-29 US Economic Releases

Durable Goods Orders Total (Dec) Survey n/a Actual 226,601 Prior 215,433 Revised n/a Durables Ex Transportation Total (Dec) Survey n/a Actual 155,206 Prior 151,303 Revised n/a Durable Goods YoY % Change Survey n/a Actual 5.0% Prior -0.6% Revised n/a Doesn’t look much like recession to me. November revised up to where last ...Read More

Responses to comments on the ‘Comments on Brian Wesbury article’ post

Post: Comments on Brian Wesbury article Comment by ‘Hoover Printing Press‘: Warren congrats on your new website. Thanks! I keep reading that the bond insurers have let banks keep lots of “accounting issues” off the books – thus affecting tier 1 capital requirements – currently to the banks advantage. Without the bond ...Read More