Mish Shedlock | TalkMarkets | Page 247
Investment Advisor Representative - Sitka Pacific Capital Management
Mike Mish Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit Sitka Pacifics Investment Management Page to learn more ...more

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More Trapped Homeowners: Pending Home Sales Decline Again, Index Below 2016 Level
The pending home sales index, an estimate of existing home sales, has accurately provided the direction of the monthly home resale reports. The survey is down for the second month, providing further evidence of a housing slowdown.
EU Brexit Document Demands UK Payment For Everything
Just 10 days before the general election, the EU published two documents that will affect every person living in Britain for years to come. Despite being dropped into the maelstrom of an election caused by Brexit, there was hardly a murmur.
Personal Income, Spending, PCE Inflation Up In April
The Personal Consumption Expenditures (PCE) price index rose by 0.2% so the net effect from a second-quarter GDP standpoint is a more modest 0.2% increase in spending and income.
Huge Artificial Increase In Credit Scores: Economic Ripple Effect?
More than six million U.S. adults will have personal bankruptcies disappear over the next five years as bankruptcy data and defaults roll off credit scores. As a result, credit scores have surged.
Investigating Trends In Median Home Prices: When Did Price Acceleration Start?
Fed Chairs Ben Bernanke and Janet Yellen re-blew the Alan Greenspan initiated housing bubble. However, the trend towards higher and higher home prices started well before that dynamic trio made a mess of everything.
Dueling GDP Estimates: GDPNow Vs. FRBNY Nowcast
Both the Atlanta Fed GDPNow and the New York Fed Nowcast updated their models today. Let’s take a look at where they stand for second-quarter GDP.
April Durable Goods: Yet Another Weak Second-Quarter Report
Durable goods in April fell 0.7% vs an Econoday consensus estimate of -1.0%, but the good news (if you call that good news), stops there.
First Quarter GDP Second Estimate 1.2 Percent: Mish Vs. Consensus
This morning, the BEA revised its estimate of first-quarter GDP to 1.2% from 0.7%. The Econoday consensus estimate was 0.8%, in a range of 0.7% to 1.0%.
Fed Eyes Second Quarter Recovery, Expects Trump Fiscal Policy Will Expand Economy
Data supporting the second quarter recovery thesis is nonexistent. Four out of four of the recent hard data economic reports have been negative.
Trade Deficit Widens, Exports Weak: Economists Miss The Mark
The Census Bureau reports the International Trade Deficit in Goods widened by $2.5 billion (3.8 percent), with exports down and imports up.
Is The Manufacturing Slowdown No Longer Welcome? Already?
On May 15, the Empire State manufacturing report kicked off the start of monthly regional Fed manufacturing reports with a composite reading of -1.0 vs an Econoday consensus expectation of 8.0.
Spring Housing Flop: Existing Home Sales Decline 2.3 Percent, Inventory Issues Persist
Existing homes declined in April, falling back by 2.3 percent in April when compared to March 2017 levels.
3% Growth? Really?!
Whether or not Trump can hit 3% growth, there are still benefits of reducing the bloated public sector.
Trump Plans To Slash Spending By $3.6 Trillion, Increase Military Spending, Balance The Budget In 10 Years
U.S. President Donald Trump wants lawmakers to slash $3.6 trillion in government spending over the next decade, taking aim in his first budget plan at healthcare and food assistance programs for the poor while boosting the military.
New Home Sales Contract 11.4%: Sales Barely Up Year-Over-Year
Housing momentum took an 11.4% dive in April to 565,000 seasonally adjusted annualized (SAAR) units. The Econoday consensus estimate of 602,000 units missed the mark badly, but there was an upward revision in March.
Greek Debt Groundhog Day: Deal Collapses After 8 Hours Of Negotiation
Yet another Greek debt cliffhanger is in the works. After eight hours of intense negotiations, Greece, EU creditors, and the IMF did not reach agreement on restructuring Greek Debt.
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