Morning Journal--Some perspective on retail sales

News on Stocks in Our Portfolios

Boeing continues to win deals in Paris. Boeing (BA) has won an order for 30 of its next-generation 737 MAX aircraft from air-leasing firm CIT Group (CIT) in a deal worth $3B at list prices. The plane maker intends to bring the MAX into service in Q3 2017, a quarter earlier than planned, but still somewhat later than the rival Airbus (EADSF.PK) A320neo. Meanwhile, Korean Air has agreed to purchase five 747 aircraft and six 777 jets in an agreement valued at $3.6B.

 

Economics

   This Week’s Data

            The FOMC released its statement from its just ended meeting.  Bottom line: economy improving, no tapering anytime soon.

   Other

            Some perspective on retail sales (medium but a must read):

            http://advisorperspectives.com/dshort/updates/Real-Retail-Sales-Per-Capita.php

            Homebuilder confidence is rising (short):

            http://www.aei-ideas.org/2013/06/builder-confidence-hits-major-milestones-in-june-first-time-above-50-since-april-2006-largest-monthly-gain-since-2002/

            Credit problems in the BRICs (medium):

            http://triplecrisis.com/the-great-banking-divide/

            Chinese credit problems escalate (short):

            http://www.zerohedge.com/news/2013-06-20/chinese-bank-bailed-out-through-pboc-targeted-liquidity-operation-amidst-liquidity-c

            Some perspective on the reliability of Chinese economic data (medium and a must read):

            http://www.zerohedge.com/news/2013-06-19/whistleblower-forces-china-come-clean-over-data-manipulation

Politics

  Domestic

Obama and the NSA debate (medium):

http://www.weeklystandard.com/author/stephen-f.-hayes

            Quote of the day (short):

            http://cafehayek.com/2013/06/quotation-of-the-day-668.html

  International War Against Radical Islam

            Thoughts on the recent Iranian election (medium):

            http://www.powerlineblog.com/archives/2013/06/the-iranian-election-the-foreign-policy-establishments-take.php