Money Supply, M2, 10,594.2 Billions of Dollars

Current M2 10,594.2 Billions of Dollars, versus 9912.1 Billions of Dollars one year ago, and 5962.3 Billions of Dollars ten years ago.

Updated: 2013-06-28

Ten Year Treasury January to Now Chart

10-Year Treasury Constant Maturity Rate (DGS10)

2.08 Percent



Last Five Observations

2013-06-06: 2.08 Percent
2013-06-05: 2.10
2013-06-04: 2.14
2013-06-03: 2.13
2013-05-31: 2.16

Original content +Bob DeMarco , All American Investor

30-Year Conventional Mortgage Rate 5 30 2012

3.81 Percent



Contract interest rates on commitments for fixed-rate first mortgages. Source: Primary Mortgage Market Survey data provided by Freddie Mac.

Original content +Bob DeMarco, All American Investor

M2 Money Stock (M2) 5 20 2013

M2 includes a broader set of financial assets held principally by households.

M2 consists of M1 plus: 

(1) savings deposits (which include money market deposit accounts, or MMDAs); 

(2) small-denomination time deposits (time deposits in amounts of less than $100,000); and 

(3) balances in retail money market mutual funds (MMMFs). 

Seasonally adjusted M2 is computed by summing savings deposits, small-denomination time deposits, and retail MMMFs, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.

10,541.5 Billions of Dollars



Original content +Bob DeMarco , All American Investor

30-Year Conventional Mortgage Rate 2013-05-23

3.59 Percent



Source: Primary Mortgage Market Survey data provided by Freddie Mac.

Original content +Bob DeMarco , All American Investor

Reserve Bank Credit 2013-05-22

3,336.659 Billions of Dollars

Industrial Production Index Jan 2013

All American Investor

2012-12: 98.0930 Index 2007=100

Reserve Bank Credit 12013

All American Investor

2,896.291 Billions of Dollars
Updated: 2013-01-04 12:01 PM CST



If you don't see the chart - go here.

Civilian Unemployment Rate 104

The unemployment rate represents the number of unemployed as a percentage of the labor force.

2012-12: 7.8 Percent 

Monthly, Seasonally Adjusted, Updated: 2013-01-04

If you don't see the chart go here

30-Year Conventional Mortgage Rate 1231

Contract interest rates on commitments for fixed-rate first mortgages. Source: Primary Mortgage Market Survey data provided by Freddie Mac. Please refer to the series WMORTG for historical data. 
pdated: 2012-12-31 3:01 PM CST

Mastercard (MA) 2012 Review

Mastercard (MA) is a global leader in electronic payments serving as a processor, franchisor and advisor to approximately 25,000 financial institutions for their credit, debit and other payment programs. 

In addition, it manages a family of payment card brands (Mastercard, Mastercard Electronic, Maestro, Cirrus). Importantly, MA does not extend credit; it simply acts as a toll collector and is paid on both transaction volume and dollar volume.

The company earns in excess of a 25% return on equity and has grown profits from $1.76 in 2004 to $18.70 in 2011 and its dividend from $.09 in 2006 to $.60 in 2011.

While the 2008-2009 pullback in global consumer spending impacted the gross dollar volume of transactions, the company continued to grow; further improvement should come as a result of:

Kimberly Clark (KMB) 2012 Review

Kimberly Clark develops, manufactures and markets personal care products (Huggies, Pull Ups, Little Swimmers, Goodnights, Kotex, Depends, Kleenex, Scott, Cottonelle tissue and Viva paper towels).

KMB has grown its profits and dividends at a 4-9% annual rate over the past 10 years earning an amazing 30%+ rate of return on equity. As with many of our companies, Kimberly has had a rough go of it in the last five years as customers ‘traded down’ to generic brands. However, the company is seeing improvement in its bottom line which should continue as a result of:

(1) significant cost cutting as well as better supply chain management,

(2) expansion into emerging markets,

(3) new product innovation,

(4) a significant stock buy back program,

Negatives:

(1) volatile commodity prices,

(2) currency fluctuations.

KMB is rated A++ by Value Line, carries a 51% debt to equity ratio and its stock yields 4.0%

Statistical Summary

	Stock Yield	Dividend Growth Rate	Payout Ratio	# Increases Since 2002
KMB	4.0%	4%	64%	10
IND	2.5	11	40	NA

	Debt/Equity	ROE	EPS Down Since 2002	Net Margin	Value Line Rating
KMB	51%	33%	3	8%	A++
IND	36	20	NA	13	NA

Chart

Note: KMB stock made great progress off its March 2009 low, surpassing the downtrend off its June 2007 high (red line) and the November 2008 trading high (green line). Long term, the stock is in an uptrend (straight blue lines). Intermediate term, it is in an uptrend (purple lines). Short term it is in an uptrend (brown line). The High Yield Portfolio owns a 75% position in KMB. The upper boundary of its Buy Value Range is $51. The lower boundary of its Sell Half Range is $87.




http://finance.yahoo.com/q?s=KMB

Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.

Tiffany (TIF) 2012 Review

Tiffany & Co (TIF) is an internationally known retailer, designer and manufacturer of fine jewelry, silverware, china, crystal and gift items.

The company has grown profits and dividends at a 10-20% rate over the last 10 years earning a 14-19% return on equity. 2009 was a difficult year for TIF, made especially so by management’s hesitancy to discount and the decline in spending by foreign tourists. However, 2010 rebounded strongly and profits have continued to grow as a result of:

(1) rising sales made possible by rising capital expenditures in its distribution, manufacturing and diamond sourcing process,

(2) increased penetration in international markets,

(3) expansion in new store openings,

(4) a growing customer base resulting from opening a line of new smaller stores with lower priced, higher margin products,

(5) stock buyback program.

Automatic Data Processing (ADP) 2012 Review

Automatic Data Processing (ADP) provides payroll and tax filing services, brokerage services, comprehensive human resource services and financial services to auto and truck dealerships.

The company has grown profits and dividends 7-14% over the last 10 years and has earned an 18-20% return on equity. While the 2008-2009 recession impacted ADP somewhat, it did very well relative to other companies. Long term, the company should continue to prosper based:

(1) the economic recovery has led to an increase in both customers and the number of checks processed,

(2) the contribution from the recent acquisitions [8 in the last year],

(3) a dedicated effort to technological upgrades,

(4) its stock buy back program.

Occidental Petroleum (OXY)

Occidental Petroleum (OXY) produces and markets crude oil and natural gas, manufactures industrial chemicals, plastics and fertilizer and transports natural gas through pipelines.

The company has grown profits at a 24% over the last ten years. Dividends grew at a lesser rate (10%) though they are expected to rise to an 11% pace. OXY’s return on equity has been in the 11-20% range. The company should continue to grow dividends and earnings as a result of:

(1) rising production from new properties,

(2) the company’s expertise in enhanced oil recovery techniques,

(3) acquisitions,

(4) resumption of operations in Libya,

(5) improving profit margins,

(6) stock buyback program.

Target (TGT) 2012 Review

Target (TGT) is a leading discount retailer concentrated in California, Texas, Florida and the upper Midwest. It has grown profits and dividends at an 11-14% pace over the last 10 years earning a 15%+ return on equity. 

The company faltered a bit in its 2008 fiscal year due to the slowing economy but has since recovered and should continue growing at an above average rate as a result of:

(1) improving comparable store sales and operating margins due to its product innovation, aggressive pricing strategy and its efficient, multi channel marketing strategy,

(2) rising store productivity arising from expanded grocery offering, better store layout and an enhanced in-store shopping experience,

(3) introduction of smaller stores in urban markets,

(4) expansion internationally.

(5) active stock buyback program.

Xilinx (XLNX) 2012 Review

Xilinx designs, develops and markets complementary metal-oxide-silicon programmable logic devices, including field programmable gate arrays and complex programmable logic devices and markets hardware devices and develops software design tools for programmable electronic technologies.

Steve Cook

The company has grown profits at a 10% pace over the last 10 years and has raised its dividend per share from $.20 in 2004 to $.64 in 2010. Return on equity has come in between 16% and 20% in the last five years. XLNX experienced a hiccup in 2009 due to the recession but recovered in 2010 year and should continue to make progress as a result of:

(1) benefiting from the global trend of programmable logic devices replacing application-specific integrated circuits,

(2) improvement in demand from its two principal markets,

(3) new products expected to open new markets,

Family Dollar Stores (FDO) 2012 Review

Family Dollar Stores operates a chain of 6,785 general retail discount merchandise stores in 44 states. It provides competitively priced goods to low and middle income consumers, including home products, apparel and accessories, seasonal goods and electronics. 

FDO has grown profits and dividends at an 11% pace over the last 10 years earning a 15-20% return on equity. The company successfully navigated its way through the recent recession and should continue to improve earnings as a result of:

(1) its strategy to upgrade its merchandising, marketing and store operations,

(2) aggressive price management and cost containment programs,

All Employees: Government 311 (Graph)

All American Investor

Reserve Bank Credit 311

Reserve Bank credit is the sum of securities held outright, repurchase agreements, term auction credit, other loans, net portfolio holdings of Commercial Paper Funding Facility LLC, net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility, net portfolio holdings of Maiden Lane LLC, net portfolio holdings of Maiden Lane II LLC, net portfolio holdings of Maiden Lane III LLC, float, central bank liquidity swaps, and other Federal Reserve assets.

All American Investor