Wednesday, October 12, 2011

Morning Journal 10/12/11


Economics

This Week’s Data


The International Council of Shopping Centers reported weekly sales of major retailers fell 0.1% versus the prior week but rose 2.8% versus the comparable period last year; Redbook Research reported month to date retail chain store sales down 0.6% versus the similar timeframe last month but up 4.8% on a year over year basis.

Weekly mortgage applications rose 1.3% while purchase applications were up 1.1%.
http://www.calculatedriskblog.com/2011/10/mba-mortgage-purchase-application-index_12.html


Other

When the yuan rises, the trade deficit rises (short):
http://mjperry.blogspot.com/2011/10/chart-of-day-yuan-rises-deficit-widens.html

A very thorough look at (un) employment (medium):
http://advisorperspectives.com/dshort/guest/Shedlock-111011-Employment-Unemployment-What-If-Scenarios.php

Politics

Domestic


Will Meredith Whitney end up being right after all (medium):
http://www.zerohedge.com/news/it-begins-harrisburg-files-bankruptcy-protection