Wednesday, January 7, 2015

Morning Journal--So much for bipartisanship


   This Week’s Data

            Redbook Research reported month to date retail chain store sales down 0.6% versus the prior month but up 4.3% versus the comparable period last year.

            The December Markit services index came in at 53.3 versus expectations of 53.6.

            November factory orders were down 0.7% versus estimates of down 0.6%.

            The December ISM nonmanufacturing index was 56.2 versus forecasts of 58.0.

                Weekly mortgage applications fell 9.1% while purchase applications were down 5.0%

            The December ADP private payroll report showed an increase of 14,000 jobs versus expectations of a rise of 27,000 jobs.

            The US November trade deficit came in at $39.0 billion versus an anticipated $41.5 billion.


            The ECB ‘leaks’ its three QE options---a sure sign that it is just as confused as everyone else (medium):



Rumors are that Obama will pick former CEO of Bank of Hawaii for Fed post (medium):

            The Senate introduced a bill approving the Keystone pipeline yesterday and Obama threatens a veto.  So much for bipartisanship (medium):

  International War Against Radical Islam

            ISIS now hiring bankers (medium):

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