Macro Man submits:
Sure enough, GDP prints a horrible figure and stocks go down for a millisecond before trampolining back up to within a couple of ticks of the high of the day. In fairness, the -6.1% had a couple of mitigating factors - the inventory drawdown was huge and the deflator was actually quite [...]

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The current debate revolves around the simplified monetarist equation (which everyone accepts), that says (M•VT = P•TT) where ((M)) is the amount of (liquid) money in the system, (VT) is the transactions velocity of this money which is the average frequency across all transactions with which a unit of money is spent (i.e. how fast [...]

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Hickey and Walters (Bespoke) submit:
On Monday we highlighted the S&P/Case-Shiller housing numbers prior to the release of the February numbers on Tuesday. Now that they’ve been released, we have updated our chart showing the declines in median home prices in the 20 cities tracked from their peaks. Phoenix has become the [...]

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Calafia Beach Pundit submits:

The economy contracted at a 6.1% annual pace in the first quarter, more than expected. The contraction was driven mainly by a huge inventory drawdown, which in turn was a reaction by business to the big slump in spending in the prior quarter. That will almost certainly turn around for the [...]

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Calafia Beach Pundit submits:

Here are two different measures of consumer confidence. The first chart has data released yesterday for April (from the Conference Board), while the other is from the U. of Michigan and was released a few days ago. Both show confidence bouncing in recent months from very low levels.

This is not [...]

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