Trade Balance (Dec)
| Survey | -$61.5B |
| Actual | -$58.8B |
| Prior | -$63.1B |
| Revised | n/a |
Moving lower as it reflects the declining desire of non residents to accumulate $US financial assets. Three main drivers are Paulson calling CB’s who buy $ currency manipulators, the Fed pursuing what looks to the world an ‘inflate your way out of debt’ policy scaring foreigners out of holding $US financial assets, and Bush’s ideological stance discouraging many oil producers from accumulating $US financial assets. And the new fiscal package doesn’t help, either.
Strong exports continue to support GDP and pick up the slack due to weak housing.
Initial Jobless Claims (Feb 9)
| Survey | 347K |
| Actual | 348K |
| Prior | 356K |
| Revised | 357K |
Working their way back down – no recession here.
Continuing Claims (Feb 2)
| Survey | 2759K |
| Actual | 2761K |
| Prior | 2785K |
| Revised | 2770K |
Still at modest levels, and only a very small blip on the long term chart.
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