This will also serve as a useful review mechanism, as scrolling through the series of "Morning Memo" posts over time ought to summarily highlight what generally drove price action.
We hope you find this useful and informative....and as always, that you'll share feedback!!
Tuesday, June 25, 2013
- China opens down 5%..rallies back to near unched on rumors that PBoC would restore calm to money markets.
- PBoC...no action (explicitly). But pledges support for cash-strapped banks. "Will keep rates reasonable"
- European markets generally higher. Mixed data. Mkts breath sigh of relief on China.
- Italy's PM reminds markets that EZ crisis is not over.
- US..Case-Shiller in April up 12.1%. bte (better than expected).
- Durable Goods bte. (very volatile series. Heavily influenced by big-ticket items such as aircraft.) Ex-def and aircraft bte +1.1%. Core capital goods +1.7%.
- New Home Sales...jumps to 5yr high!
- Consumer Confidence highest since '08!
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