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Chinese services saw their worst growth in two years The HSBC China Services Business Activity Index declined to 51.1 in April from 54.3 in March, the lowest level since August 2011. From Markit: HSBC China Composite PMI™ data (which covers both manufacturing and services) signalled an expansion of output for the eighth consecutive month in April. However, the HSBC China Composite Output Index signalled only a marginal rate of growth, posting at 51.1. This was down from [...] A scary head-and-shoulders pattern could be building in the S&P 500, and this negative chart formation would be created if the market stalls just above current levels. “It’s developing and it’s developing fast,” said Scott Redler of T3Live.com on Wednesday morning. Redler follows the short-term technicals of the market, and he says the head and shoulders should be proven either way in the next few trading days. “Anticipating this type of pattern has [...] Scary Pattern Could Be Forming on S&P 500 Chart A scary head-and-shoulders pattern could be building in the S&P 500, and this negative chart formation would be created if the market stalls just above current levels. “It’s developing and it’s developing fast,” said Scott Redler of T3Live.com on Wednesday morning. Redler follows the short-term technicals of the market, and he says the head and shoulders should be proven either way in the next few [...] “ADP reports state that only 158,000 jobs were added to the U.S. private sector last month. The general forecast for the month of March was just under 200K added jobs. The March ADP tally was the smallest since October. The primary cause of the slowdown seems to be hiring in construction firms. Construction employment gains have seemed to pause after the rebuilding following Hurricane Sandy has started to tail off. Another reason [...] By Michael Kitchen LOS ANGELES (MarketWatch) — Japan’s real gross domestic product contracted 0.8% during the month of March, swinging from growth in February, according to research cited in a Nikkei business daily report Tuesday. The Japan Center for Economic Research, which tracks Japanese GDP on a monthly basis, said consumer spending fell for the first time in fourth months, falling 0.4%, while exports were flat. But the study said [...] by Mint News Blog Updated figures are available for the United States Mint’s circulating coinage production through the end of March 2012. Production figures jumped compared to the prior month and year ago period, although the gains were generated by increases for the smallest denominations which offset losses for the higher denominations. For the month of March 2012, circulating coin production reached 786.46 million coins. This is up from the prior month when [...] Good evening Ladies and Gentlemen: Gold closed down today to the tune of $20.40 to $1646.70. Silver the real victim of the raid, fell by $1.13 to $31.80. The markets around the world was in the red today which caused our bankers to initiate another raid. We noticed yesterday that the gold/silver equity shares were weak which is generally a good sign that the bankers have orchestrated all the players to [...] From Grant Williams Any time you see smoke amidst a whole stack of paper, it’s likely a fire is about to break out and that certainly happened this past week as the paper futures market led a drubbing in prices for the silver contracts that, even by silver’s standards, was pretty spectacular. But as the fall in the COMEX contract price captivated the world and headlines [...]
Remote Sensing Systems has released their satellite measured temperature data for the month of March 2011. March 2011 ended up as the coolest March globally since March of 1994. The actual global temperature anomaly for the lower troposphere last month was negative 0.026 C. This is also the first month since June of 2008 that the global temperature anomaly was in the negative. The RSS image below gives you a visual [...] The Credit Suisse proprietary survey of real estate agents showed a decline in homebuyer traffic for March. Homebuyers are seemingly waiting for more signs of a stabilising market. Importantly, the majority of activity is still concentrated across distressed listings (lower priced existing homes), which are driving the price of newly constructed homes down. Unfortunately, falling prices do not bode well for underlying construction activity, where builder margins [...] (CNSNews.com) – The U.S. Treasury has released a final statement for the month of March that demonstrates that financial madness has gripped the federal government. During the month, according to the Treasury, the federal government grossed $194 billion in tax revenue and paid out $65.898 billion in tax refunds (including $62.011 to individuals and $3.887 to businesses) thus netting $128.179 billion in tax revenue for March. At the same, [...] Editor’s note: For additional commentary, visit the website of Atlantic Capital Management. The ongoing drama at the silver COMEX should reach a climax this week. Just to quickly review, for the month of March (a silver delivery month) 1,383 contract holders deposited enough cash in their COMEX accounts to fully fund the purchase of 8.9 million ounces of silver. As of Thursday, March 24, there were [...] And for those who are confused by the above, here is another explanation of what may be happening courtesy of a “letter” to Blythe (thanks John). Blythe, This is what I am hearing from your former traders (who made “very interesting career decisions”). Well it seem that they are on to a new scheme to corner the Comex and drive the price of silver up $10 to $15 [...] 1) In what universe is an economy with 39.68 million Americans on food stamps considered to be a healthy, recovering economy? In fact, the U.S. Department of Agriculture forecasts that enrollment in the food stamp program will exceed 43 million Americans in 2011. Is a rapidly increasing number of Americans on food stamps a good sign or a bad sign for the economy? #2) According to RealtyTrac, foreclosure filings were reported [...] 1. 39.68 million Americans are on food stamps. That number is expected to rise to over 43 million Americans in 2011. So today’s report shows spending was up more than 2x income for the month of March. The savings rate fell in one month from 3.1% to 2.7%. At this rate we will be back to 0% savings by the end of the year. What’s more the increase in consumer spending wont translate into many jobs, certainly not manufacturing jobs as most of the products consumers are buying are imports. Thus, I [...] First, the total number of NEW houses sold according to the US Census Bureau was 38,000 homes which was up 7,000 houses from March 2009. Many people just looked at the headline number being flashed all around of 411,000 houses and assumed that was for March without comprehending that ONLY 38,000 NEW HOMES WERE IN FACT SOLD IN MARCH 2010. That is an extremely small number and is only around [...] Let’s take a look at the HISTORICAL ACTUAL DATA courtesy of iRishscot2, starting with the month of March historically back to the beginning of the data: Year…………Sold (1,000′s)..Annual Projected (1,000′s) #1) According to RealtyTrac, foreclosure filings were reported on 367,056 properties in the month of March. This represented an increase of almost 19 percent from February, and it was also an increase of nearly 8 percent from March 2009. In fact, the number for March 2010 was the highest monthly total since RealtyTrac began issuing its report in January 2005. That is really, really bad news for the real estate [...] |
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