Morning Journal--Government debt per taxpayer

News on Stocks in Our Portfolios

The Bank of Nova Scotia beats by C$0.01, beats on revenue

·         The Bank of Nova Scotia (BNS): FQ1 EPS of C$1.34 beats by C$0.01.

·         Revenue of C$5.72B (+8.7% Y/Y) beats by C$180M.

 

Economics

   This Week’s Data

            January personal income rose 0.3% versus expectations of +0.2%; personal spending was up 0.4% versus estimates of +0.1%.

            http://www.calculatedriskblog.com/2014/03/personal-income-increased-03-in-january.html

            The February Markit PMI came in at 57.1 versus January’s reading of 53.7.

            The February ISM manufacturing index was reported at 53.2 versus forecasts of 51.9.

            http://www.calculatedriskblog.com/2014/03/ism-manufacturing-index-increased-in.html

            January construction spending rose 0.1% versus consensus of -0.2%.

            http://www.calculatedriskblog.com/2014/03/construction-spending-increased-in.html

                February vehicle sales were virtually flat (down very slightly).

   Other

            The latest from Mohamed El Erian (medium):

            http://www.project-syndicate.org/commentary/mohamed-a--el-erian-offers-six-reasons-why-business-investment-has-stalled--despite-firms--bulging-cash-reserves#S1dKMgooEz0JQeTp.9

            Government debt per taxpayer (short):

            http://www.zerohedge.com/news/2014-03-03/preparing-obamas-2015-budget-chart-and-toy

            Rent costs and what they mean to inflation (medium):

            http://www.zerohedge.com/news/2014-03-03/biggest-component-cpi-rent-now-highest-2008-what-does-mean-broad-inflation

            The price we pay in lost interest (medium):

            http://www.zerohedge.com/news/2014-03-03/lost-interest

Politics

  Domestic

  International

            They just couldn’t help themselves: Kerry threatens sanctions (medium):    

            http://www.washingtonpost.com/world/national-security/kerry-to-visit-ukraine-on-tuesday-threatens-sanctions-if-russia-doesnt-pull-forces-back/2014/03/02/bdd16d4a-a245-11e3-a5fa-55f0c77bf39c_story.htm

            Myths about the Ukrainian conflict (short):

            http://pragcap.com/two-myths-about-the-ukrainian-conflict