Thursday, February 21, 2013

Morning Journal--the hidden risks on bank balance sheets

 News on Stocks in Our Portfolios courtesy of Seeking Alpha
 
CF Industries (CF): Q4 EPS of $7.40 beats by $0.51. Revenue of $1.5B (-14% Y/Y) misses by $0.09B.

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 2.7% versus the prior week and up 1.8% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 3.1% on a year over year basis.

            The Fed released the minutes of its latest FOMC meeting.  The committee was more upbeat about the economy and household incomes than it was after the previous meeting.  It said that the $85 billion in monthly bond purchases would continue; however, it had a livelier than expected discussion over the timing of instituting a less aggressive monetary policy.

            Weekly jobless claims rose 20,000 versus expectations of an 18,000 increase.

            Jobs and the economy---is it different this time? (short):

            The January consumer price index was unchanged versus estimates of a 0.1% rise; ex food and energy, it was up 0.3% versus forecasts of up 0.2%.

   Other

            A history of the national debt---and you wonder why I am a skeptic (medium):

            Housing overview (short):

            More on the hidden risks on bank balance sheets (derivatives)---a bit long but today’s must read:

            One estimate of the sequester’s impact (short):

            Thursday morning humor (a must read):


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