Recap 2014-12-23: Happy Holidays!

Commentary:

Interesting:

http://www.frbsf.org/economic-research/publications/economic-letter/2014/december/baby-boomers-retirement-stocks-aging/

That’s it for updates this year. Normal service will resume in 2015. Happy Holidays everyone, and thanks for reading!

Notable:

  • US Durable Goods Orders declined -0.7% vs +3.0% exp. The Core measure was flat vs +1.0% exp
  • US 3Q GDP 3rd revision improved to 5.0% SAAR vs 4.3% exp and 3.9% prev. Private consumption, and equipment and intellectual property investment was revised higher.
  • Core PCE Deflator declined to 1.4% vs 1.5% exp and 1.6% prev
  • New Home Sales declined -1.6% MoM vs +0.4% exp
  • US FHFA home prices rose 0.6% Mom in Oct vs 0.3% exp, taking the index up 4.5% YoY. The deceleration seems to be slowing:

  • Canada Oct GDP rose 0.3% MoM vs 0.1% exp and 0.4% prev
  • NZ Trade Balance was -213M in Nov vs -575M exp and -908M prev
  • Greece vote failed again but Samaras got 168 votes in favor this time, up from 160, at the high end of est. They need 180 on the third and final vote on 12/29.

Upcoming:

  • Wed: US Jobless Claims,
  • Thu: Christmas, Japan Housing Starts, Jobless Rate, CPI
  • Fri: Mexico Trade Balance
  • Mon: South Korea Mfg Survey
  • Tue: UK House Prices, EU Money Supply, US Consumer Confidence
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2 thoughts on “Recap 2014-12-23: Happy Holidays!

  1. Happy holidays, GMT!

    Thanks for all your excellent work and indefatigable output.
    Hope you have a good break – 2015 is shaping up to be an interesting year in macro land.

    Regards,
    Vandals

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