Daily Archive: Thursday, February 28, 2008
Re: GDP/claims
Email
Feb 28, 2008
(an interoffice email) On Thu, Feb 28, 2008 at 9:38 AM, Karim wrote: Housing and business capex weaker than originally estimated; exports stronger All above offset to leave gwth at 0.6% annualized in Q4 Yes, nominal growth falls to 3.3% from 6.0% in Q3 as well. More important news is
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Bloomberg: Calpers to Increase Commodity Assets to as Much as $7.2 Billion
Uncategorized
Feb 28, 2008
And 3% of assets is on the low side. I think most were targeting 4% allocations, and now I’m hearing some are moving north of 10%, which should keep the commodities going for quite a while. Calpers to Increase Commodity Assets to as Much as $7.2 Bil by Saijel Kishan (Bloomberg) The
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TIPS 5yr 5yr fwd
Inflation
Feb 28, 2008
One of the Fed’s favorite inflation expectation indicators continues to look to be breaking out. All pre/post ‘July 2006 pause’ progress has been reversed. TIPS 5yr 5yr fwd
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Re: Bernanke/data
Email, Fed, Inflation, Interest Rates, Oil
Feb 28, 2008
(an interoffice email) Yes, and he reaffirmed that he’s using the futures prices to predict where prices are going. He pointed to crude being at $95 in the back months and stated that translates to a forecast for prices to come down from current levels. Also indicated the lower dollar is useful
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New home sales
Housing
Feb 28, 2008
Weak winter sales, but the absolute number of homes in inventory did go down again and is well off the highs. A modest pickup in the sales rate will now translate into a larger drop in the number of months of inventory. The median price is more a function of which category
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