2008-12-31 USER


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Karim writes:

  • The conference board survey of labor conditions (jobs plentiful less jobs hard to get) has been a good leading indicator of payrolls and worsened in December from -28.4 to -35.8.
  • The ABC survey also worsened last week despite the further decline in gas prices, suggesting the labor market continues to deteriorate.

MBA Mortgage Applications (Dec 26)

Survey n/a
Actual 0.0%
Prior 48.0%
Revised n/a

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MBA Purchasing Applications (Dec 26)

Survey n/a
Actual 320.90
Prior 316.50
Revised n/a

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MBA Refinancing Applications (Dec 26)

Survey n/a
Actual 6733.80
Prior 6758.60
Revised n/a

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Initial Jobless Claims (Dec 27)

Survey 575K
Actual 492K
Prior 586K
Revised n/a

 
Karim writes:

  • Initial claims fall 94k to 492k but Labor Dept states data probably skewed by holidays and auto shutdowns

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Continuing Claims (Dec 20)

Survey 4400K
Actual 4506K
Prior 4370K
Revised 4366K

 
Karim writes:

  • Continuing claims, reported with a 1 week lag to initial claims, rose 140k to a new cycle high of 4506k.

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Jobless Claims ALLX (Dec 27)

 
Karim writes:

  • Would expect payroll decline for December to be larger than last month’s 533k drop (market expects slight improvement to -475k).

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NAPM Milwaukee (Dec)

Survey n/a
Actual 30
Prior 35
Revised n/a


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