Hard hitting global and local news
Home Builders Optimistic Despite Decline in Traffic; Housing Market Index Declines The National Association of Home Builders’ Housing Market Index once again reveals positive builder sentiment even though new home sales are weak. The HMI is Derived from a monthly survey that NAHB has been conducting for 30 years
Read More: Rate Shopping Whores and Chicago’s Bond Rating
Continue reading here: Consumer Confidence Plunges Below Any Economist’s Estimate; Consumers Shock Economists
Read More: Empire State Manufacturing Weaker Than Economists’ Expectations
Industrial Production, Down 5th Month, Weaker Than Economist Expectations Industrial production came in at -0.3%, down for the fifth consecutive month below the Bloomberg Consensus Estimate . Industrial production is stalling, down 0.3 percent in April for a 5th straight monthly contraction. Factories are cutting back with capacity utilization down 4 tenths to 78.2 percent
Read More: Draghi Warns ECB Economic Policies May Lead to Financial Instability and Worsen Income Inequality; Stupidity Index at New…
Original post: Steel Consumption in China Declines First Time in Three Decades; Painful Rebalancing
Read More: Producer Prices, Import/Export Prices Decline Again; Still Think the Fed Will Hike?
More here: Second Quarter GDP Forecast: Blue Chip vs. GDPNow; Where Might the Fed be Wrong?
See the original post: Moody’s Cuts Chicago Bond Rating to Junk; City Faces $2.2 Billion in Various Termination Fees; Irresponsible…