Wednesday, May 7, 2014

Morning Journal--Why QE won't work in the EU

News on Stocks in Our Portfolios

o    Western Gas Partners (WES): Q1 EPS of $0.54 beats by $0.07.
o    Revenue of $288.7M (+25.7% Y/Y) misses by $4.83M.

    • Marathon Oil (MRO): Q1 EPS of $0.88 beats by $0.17.
    • Revenue of $3.53B (-12.2% Y/Y) beats by $150M.
·         Oneok Partners (OKS): Q1 EPS of $0.81 beats by $0.15.

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers down 2.0% versus the prior week but up 2.0% on a year over year basis; Redbook Research reported month to date retail chain store sales up 4.4% versus the comparable period last year.

            Weekly mortgage applications rose 5.3% while purchase applications were up 9.0%.

            First quarter nonfarm productivity fell 1.7% versus expectations of a drop on 1.2%; unit labor costs soared 4.2% versus estimates of +2.8%.

   Other

            Here is some details of the EU growth prospects that I cited in yesterday’s Morning Call.  Note the last sentence pertaining to the risk to the forecast (medium):

                Why EU QE won’t work (medium):

            Update on recession probability model (short):

                A look at future US government debt and inflation (short):


Politics

  Domestic

This is the depth to which our higher education system has sunk (medium):

More on income inequality (short):

  International

            More on the Chinese real estate market (medium):

No comments:

Post a Comment