Date: August 2014

9 posts in August 2014

25Aug

Weekly Drive: August 18th to August 22nd, 2014

THE KEY ECONOMIC LANDMARKS WE PASSED 1. Housing – there were a lot of data points related to housing so I’ll sum them up in quick bullet points. Housing Starts: 1093K vs. 965K est. NAHB Index: 55 vs. 53 est. Building Permits: 1052K vs 1000K est. Existing Home Sales: 5.15M vs 5.02M est. Looking at…

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21Aug

World PMI update for August – Weakness in Europe

With the flash update for selected Markit PMIs for August, here is our monthly heatmap of worldwide manufacturing PMIs. A few observations: The Markit PMI for the US jumped to its highest level since 2011. While this is an encouraging sign, the link between the Markit measure and the more familiar ISM measure is not…

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21Aug

Astor on picking a fixed income ETF today

We have a note on ETF.com discussing the fixed income ETF world as we see it today. Check it out!

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20Aug

Fed Watch – Jackson Hole

The Kansas City Fed is hosting its annual Jackson Hole conference this weekend (motto: “interrupting Wall Street vacations since 1978”) . Several times in the last few years we have gotten a good preview of the Fed’s concerns for the year ahead by listening to the Chair’s speech. The last two rounds of Quantitative Easing,…

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18Aug

Weekly Drive: August 11th to August 15th, 2014

THE KEY ECONOMIC LANDMARKS WE PASSED 1. Retail Sales: 0.0% vs. 0.2% est. On a negative note, retail sales came in flat for July. Consumers appeared to slow down purchases of big ticket items as motor vehicles, furniture, appliances, and department stores all saw declines. Falling gas prices over the last month and a half should give…

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11Aug

Weekly Drive: August 4th to August 8th, 2014

THE KEY ECONOMIC LANDMARKS WE PASSED 1. ISM Non-manufacturing: 58.7 vs. 56.5 est. The latest report on the service industry smashed expectations and hit the highest level in nearly a decade (December 2005). With yet another print above 50, services have expanded for 54 straight months. The new orders subset also hit decade highs with a reading…

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5Aug
5Aug

Money Flowing Amid Selloff – Bloomberg ft. Rob Stein

The money added to the SPDR S&P 500 ETF this week may reflect more complex strategies than simply bullish investors buying stocks, according to Robert Stein, who helps oversee $900 million as president of Chicago-based Astor Investment Management LLC. “People could be selling options against it,” Stein said in an interview. “They could be selling…

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4Aug

Weekly Drive: July 28 to August 1, 2014

Welcome to the first edition of our new weekly commentary piece. My goal is to use this forum as a way to summarize economic and market activity from the prior week while providing insight from my seat on the Investment Committee and trade desk. THE KEY ECONOMIC LANDMARKS WE PASSED 1. Q2 GDP: 4.0% vs. 3.0% est, Q1…

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