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Rounding out our trio of articles from today, please consider Still unclear exactly how QE eases conditions: Fed’s Dudley . Extensive research into massive asset-purchase programs has not yet clarified whether such policies ease financial conditions primarily as a signal to investors or more directly through private portfolios, an influential U.S.
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Read More: Eurozone Manufacturing Expands Except in France and Greece; Hollande Concedes Taxes ‘Too Heavy’ Offending Everyone
PMI rises to 11 – month high, indicating solid improvement in business conditions Output supported by strong increase in new orders Employment growth quickens to nine – month high Input price pressures intensifies Summary Business conditions in the U.S. manufacturing sector improved at the fastest rate since January, according to the final December Markit U.S. Manufacturing Purchasing Managers’ Indexâ„¢ (PMIâ„¢).
Read this article: China’s Bill for Cleaning Air Pollution Mounts; State TV Promotes Benefits of Smog
Happy New Year (and Some British Humor) Posted by Michael Shedlock at 8:44 PM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy
Zero Hedge : Pending Home Sales Plunge At Fastest Pace Since April 2011 It took about one second to understand the discrepancy. All but the ZeroHedge headline (not necessarily the articles) ignored the NAR statement (see first link) " The Pending Home Sales Index,* a forward-looking indicator based on contract signings, inched up 0.2 percent to 101.7 in November from a downwardly revised 101.5 in October, but is 1.6 percent below November 2012 when it was 103.3. " ZeroHedge has a chart that shows just that.
Judge Bars San Jose from Imposing Voter-Approved Pension Cuts; Hollow Victory for Unions On December 24, a state court judge barred the city of San Jose, California, from imposing voter-approved pension cuts on current municipal worker. San Jose Mayor Chuck Reed, a Democrat, encouraged voters in his city to back municipal pension cuts he proposed as part of last year’s Measure B, which drew 70 percent support at the polls. The unions challenged the measure, leading to Judge Lucas’ ruling in Santa Clara County Superior Court
Via translation from Les Echos, please consider Taxis against VTC: the conflict continues . Note: "VTC" (Voiture de Tourisme avec Chauffeur) translates roughly as chauffeur driven touring car.