CNBC has been reporting this afternoon that several hedge funds that use leverage to invest in the municipal bond market are being forced to sell. The size of the offers are huge and prices have been marked down significantly to attract buyers. The stress in the muni market first showed up several weeks ago in [...]
US consumer sentiment hit its worst levels since the worst of the 1991 recession, according to the University of Michigan Consumer Survey. The survey dropped to 70.8, from 78.4 in January. The mid-February reading was 69.6, so it has improved slightly. Economists were expecting a reading of 69.4.
The index has fallen 30% [...]
Nominal personal spending increased 0.4% in January, above the 0.2% expected by economists. Inflation was also higher in January, leaving real consumer spending flat for the month. Real spending on durable and nondurable goods fell, while spending on services rose.
Nominal personal incomes grew 0.3% in January, with wages and salaries increasing 0.5% in the month. [...]
We’ve updated our Index Comparison page on our website. In these studies we compare the performance of various indices over varying time periods. It’s interesting to see where money is flowing in and out. Obviously, the commodity indices are vastly outperforming this year, but there are some surprises:
1. Even with the turmoil this year, emerging [...]
