Even though sales of existing homes rose for the first time in 6 months, today’s reports on house prices and consumer confidence tell us that the US economy is still in trouble. According to S&P CaseShiller, house prices dropped over 10 percent, the largest decline on record. With the values of homes quickly slipping, [...]

Posted in Existing Home Sales, Fed Rate Cut, Fed Rate Cut Expectations, Federal Reserve, GDP, US Dollar, consumer confidence, recession No Comments »

What did this morning’s US numbers tell us?
We could see a blowout number in January job growth. ADP reported that 130k new jobs were added to US payrolls last month which dovetails well into the surprisingly low level of jobless claims that we have seen in recent weeks. The four week moving average [...]

Posted in ADP, GDP, US Dollar, US Economy, non-farm payrolls No Comments »