Monthly Archives: June 2009

JUNE CHICAGO PMI UP TO 39.9 VS 34.9

The Chicago PMI is back to its April level. The Institute for Supply Management-Chicago said on Tuesday its index of Midwest business activity rose in June to 39.9 from 34.9 in May. (seasonal adj) June May April March Feb Jan … Continue reading

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MAY WAS A RECORD MONTH FOR US MUTUAL FUNDS

The rise in mid and long-term yields during May suggests that fund managers invested the inflow in shorter term maturities during May. May was a great month for the U.S. mutual fund industry. According to just-released data from the Investment … Continue reading

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US CHAIN STORE SALES POP UP

Chain-store sales, helped by seasonable weather, thankfully popped higher in the June 27 week — but not enough to salvage the month. ICSC-Goldman’s same-store sales tally jumped 1.6 percent for the biggest weekly gain in six months. The year-on-year rate … Continue reading

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Euro-Zone CPI Posts First-Ever Drop

Consumer prices in the 16 countries that use the euro declined in June from a year earlier, marking the first negative reading since records began in January 1997. The euro zone’s annual consumer-price-index rate fell 0.1% in June from a … Continue reading

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Car-Sales Rebound Seen for June

The auto sector is the last of the deeply impacted sectors that have yet to show some encouraging signs. The inventory correction appears over and plants are being restarted. And banks are lending a bit more freely, there is clearly … Continue reading

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U.K. Economy Posts Largest Decline in 50 Years

U.K. House Prices Rise for Second Consecutive Month The U.K. economy posted its sharpest decline in more than 50 years in the first quarter, suggesting the recession has been even harsher than previously thought, the Office for National Statistics said … Continue reading

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Street to Log Best Quarter Since Crisis

And banks are printing money off the fed-engineered yield curve. The securities firms still standing on Wall Street are about to close the most lucrative quarter since the credit crisis erupted. And instead of relying on risk and leverage to … Continue reading

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NOTABLE US INSIDER TRANSACTIONS

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Get Ready for Big Banks to Bounce Back

(…)Fresh off a chat with executives at Citigroup Richard Bove stopped by the Barron’s offices to talk about why profits at some big banks could quintuple; why former Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke, and Federal Deposit … Continue reading

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Will the surge in the US savings rate in May stick?

National Bank Financial Group argues that May’s 6.9% savings rate is a statistical fluke and is not sustainable. Time will tell but if they are wrong and the savings rate stays high, consumer spending will really hit the skids (see … Continue reading

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FUND FLOWS NO LONGER SUPPORTING THE EQUITY MARKET

First off, short interest is starting to build again — rising 0.74% on the Nasdaq and by 2.33% on the NYSE in the first half of June. Second, share repurchases by S&P; 500 companies have hit their lowest levels in … Continue reading

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PPIP: “The Greatest Program That Never Occurred”

One of Treasury Secretary Timothy Geithner’s chief duties when he took the job was to solve banks’ toxic assets problem. His solution: The Public-Private Investment Program ("PPIP"). The program was unveiled on March 23rd. Over three months later, part has … Continue reading

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