Wednesday, December 3, 2014

Morning Journal--A German banker's view of QE

The International Council of Shopping Centers reported weekly sales of major retails down 1.8% versus the prior week but up 2.8% on a year over year basis; Redbook Research reported month to date retail chain store sales up 4.8% versus the comparable period a year ago.

            More on Thanksgiving retail sales (short):

            October construction spending rose 1.1% versus expectations of up 0.5%.

                November light vehicle sales were up 4.6%.

                Weekly mortgage applications declined 7.3% but purchase applications were up 3.0%.

            November ADP private payrolls report showed job growth of 208,000 versus estimates of +225,000.


            Who pays for government (short)?

            Has the economic recovery been under sold? (medium):

            A German banker’s view of QE (medium and today’s must read):




            Will Italy exit the EU? (medium):

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