Morning Journal---Too big to jail

News on Stocks in Our Portfolios courtesy of Seeking Alpha

Brown Forman (BF.B) (BF.A): Q4 EPS of $0.73 beats by $0.03. Revenue of $1.03B in-line.

 

Economics

   This Week’s Data

            Weekly mortgage applications soared 14.8% and were matched by purchase applications up 15.0%

            http://www.calculatedriskblog.com/2013/03/mba-mortgage-applications-increase.html

            The ADP private payroll report showed a slightly lower decline in job increases than anticipated.

            http://www.capitalspectator.com/archives/2013/03/adp_payrolls_in_1.html#more

            In the Fed’s latest Beige Book report ‘modest to moderate growth’ dominated the verbiage.  Pick a subject, then put those four words in front of it and you have the report.

            January factory orders were down 2.2% versus estimates of a 2.0% decline.

   Other

            Still no recession (short):

            http://pragcap.com/recession-index-still-says-no-recession

            World recession update (short):

            http://advisorperspectives.com/dshort/guest/Dwaine-van-Vuuren-130306-World-Recession.php

            Savings lost under zero interest rates (short):

            http://advisorperspectives.com/dshort/guest/Chris-Turner-130306-Savings-Lost.php

Politics

  Domestic

The latest on Obamacare (medium):

http://www.nationalreview.com/author/56454/latest

Eric Holder: banks too big to jail (short):

http://www.zerohedge.com/news/2013-03-06/eric-holder-some-banks-are-so-large-it-difficult-us-prosecute-them

The latest bank stress test (short):

http://www.zerohedge.com/news/2013-03-06/financial-stress-test-deja-vu

           

  International

            Stratfor on Venezuela after Chavez (3 minute video):

            http://www.zerohedge.com/news/2013-03-06/venezuela-after-chavez