Wholesale Inventories

Fundamentals 9/9

Wholesale Inventories (July) Inventories month/month were +0.8%. This bit of data reflects the fact that we saw that increase in discretionary consumer spending in the Consumer Metrics data of early July. At the open, markets did not react positively to the President’s jobs speech. My own humble opinion is that most folks realize that the

Fundamentals 8/10: What If Bernanke Was A CFO?

MBA Mortgage Applications for week ending 8/5 -Purchase Index Week/Week: -0.9% -Refinance Index Week/Week: +30.4% -Composite Index Week/Week: +21.7 -Refinance index driven up by very low rates. -Purchase index indicates that housing is still quite soft. Yesterday’s FOMC statement that interest rates would remain low for the next two years was a reaction to the