Free Markets, Free People

Dale Franks


Observations: The QandO Podcast for 01 Jun 14

This week, Bruce, Michael, and Dale talk about Ukraine, the Bundy case in Nevada, and the increasing arbitrariness of the Federal government.

The podcast can be found on Stitcher here. Please remember the feed may take a couple of hours to update after this is first posted.

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Economic Statistics for 29 May 14

The Commerce Department’s first revision of 1st Quarter GDP was revised down to a -1.0% annualized decline. The GDP price index was unchanged at a 1.3% annualized increase.

The pending home sales index rose 0.4% to 97.8 in April.

Weekly initial jobless claims fell 27,000 to 300,000. The 4-week average fell 11,250 to 311,500. Continuing claims fell 17,000 to 2.631 million.

The Bloomberg Consumer Comfort Index fell -0.8 points to 33.3 in the latest week, the lowest level since November 2013.

The Fed’s balance sheet fell $-4.9 billion last week, with total assets of $4.322 trillion. Total reserve bank credit rose by $7.7 billion.

The Fed reports that M2 money supply rose $5.0 billion in the latest week.


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Economic Statistics for 27 May 14

Durable goods orders rose 0.8% in April, mainly on transportation orders. Ex-transportation orders rose 0.1%. On a year-over-year basis, orders are up 7.1%, while ex-transportation orders are up 4.8%.

The Federal Housing Finance Agency (FHFA) House Price Index rose 0.7% in March, and is up 6.4% over last year.

The S&P/Case-Shiller home price index for March was up 1.2% on a seasonally-adjusted basis.

The May Purchasing Managers’ Index (PMI) US Services Flash rose 3.0 points to 58.4.

The Conference Board’s consumer confidence index rose 0/7 points in May to 83.0.

The Richmond Fed manufacturing index was unchanged at 7 in May.

The State Street Investor Confidence Index for May rose 0.5 points to 119.5.

The Dallas Fed general business activity index fell 3.7 points to 8.0 in May. The production index plummeted to 11.0 from 24.7.


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Economic Statistics for 22 May 14

Weekly initial jobless claims rose 28,000 to 326,000. The 4-week average fell 1,250 to 322,500. Continuing claims fell 13,000 to 2.653 million.

The Chicago Fed National Activity Index fell sharply from 0.20 to -0.32 in April.

The Markit PMI manufacturing index flash for May rose 1.8 points to 56.2.

The Bloomberg Consumer Comfort Index fell 3 points to 34.1in the latest week.

Existing home sales rose 1.3% in April to a 4.65 million annual rate. Sales are still down -6.8% on a year-ago basis, however.

The Conference Board’s index of leading indicators rose 0.4% in April.

The Kansas City Fed manufacturing index rose 3 points to 10 in May.

The Fed’s balance sheet fell $9.1 billion last week, with total assets of $4.328 trillion. Total reserve bank credit rose by $2.7 billion.

The Fed reports that M2 money supply rose $4.6 billion in the latest week.


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