Wednesday, September 25, 2013

Morning Journal---Shiller on the latest Case Shiller reading

Economics

   This Week’s Data

            The July Case Shiller home price index rose 0.6% versus expectations of a 0.8% increase.

            Shiller on the latest reading of his index (he’s not that jiggy; medium):
            
            The International Council of Shopping Centers reported weekly sales of major retailers fell 1.0% versus the prior week but rose 1.6% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 3.6% on a year over year basis.

            The September Conference Board’s index of consumer confidence was reported at 79.7 versus estimates of 80.0 and August’s reading of 81.6.

            The Richmond Fed’s September manufacturing index came in at 0.0 versus forecasts of 10.5.

                Weekly mortgage applications were up 5.5% while purchase applications were up 7.0%.

            August durable goods orders were up 0.1% versus expectations of -0.5%; however, the July number was revised down substantially.

   Other

            Overnight, Germany reported that consumer confidence hit a six year high and the China Beige Book showed a slowdown in economic activity.
           
            The Troika responds to the Greek prediction of a primary budget surplus (short):

Politics

  Domestic

  International War Against Radical Islam

            Another diplomatic smackdown---it’s complicated, aka we are not discussing our nuclear program (short):

No comments:

Post a Comment