Morning Journal--Update on federal debt

Economics

   This Week’s Data

            The November Markit manufacturing PMI was reported at 54.8 versus expectations of 55.0.

            The November ISM manufacturing index was 58.7 versus estimates of 57.8.

            http://scottgrannis.blogspot.com/2014/12/manufacturing-still-strong.html

            http://www.bespokeinvest.com/thinkbig/2014/12/1/ism-commodities-survey-turns-negative.html

                Cyber Monday sales rose 8.0% versus forecasts of up 13.0%.

   Other

            Federal debt appears to be stabilizing (short):

            http://www.crossingwallstreet.com/archives/2014/12/federal-debt-appears-to-be-stabilizing.html

            Though at a very high level (short):

            http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion

            Update on money supply (short):

            http://www.capitalspectator.com/the-deceleration-in-us-money-supply-growth-rolls-on/#more-4540

            Update on Citi’s US Macro Surprise Index (short):

            http://www.zerohedge.com/news/2014-12-01/2014-now-worst-year-us-macro-data-performance-2008

Politics

  Domestic

  International

            Putin scuttles pipeline to southern Europe and, instead, agrees to build one to Turkey (medium):

            http://www.zerohedge.com/news/2014-12-01/putin-kills-south-stream-pipeline-will-build-new-massive-pipeline-turkey-instead