Daily Archive: Tuesday, August 17, 2010

JN Daily | Gov’t Considering Addt’l Economic Stimulus

Good news on the proposed ‘stimulus’ even in the face of 200% type debt to GDP ratios. Someone over there must get it? They obviously don’t like the way the yen is going, which calls for deficit spending to reverse it. (Budget deficits are like bumper crops, which put downward pressure on ...Read More

China reduces long term treasuries by record amount

Notice US Tsy yields fell to their lows even with China reducing holdings. The fear mongerers will just tell us to thank goodness someone else came in to replace them, and that without the Fed buying it’s all over for the US, etc. To which I say, it’s just a reserve drain, ...Read More

PPI/Starts

Karim writes: Core PPI stronger than expected at 0.3% m/m; now running 2.6% annualized over last 3mths Core intermediate goods -0.4% and core crude -1.4% Housing starts up 1.7% in July from downwardly revised level for June Building permits down 3.1% for July Non-residential construction will have a tough time contributing to ...Read More