EIA, Housing Starts, Building Permits, CPI
In our top story tonight, the leader of al-Qaida in Iraq, Abu Musab al-Zarqawi, is STILL dead and someone else has taken his place.
EIA Inventory Crude +0.2M barrels; Gasoline +1.5M; Distillate +1.2M; Propane +1.71M
Inside the number: Inventories are at all time highs, YOY Crude +15.4M; Gasoline +2.9M; Distillate +8.4M; Propane -4.522M Full Report
June Housing Starts -5.3% @ 1.85M vs prior 1.95M
Inside the number: YOY Starts -11%, New permits -15%, with markets in Virginia, DC, Mass, Florida and Texas heading off the deep end, Arizona, Nevada & California will be following. Full Report
June CPI +0.2% vs prior +0.4%; Core +0.3% vs prior +0.3%
Inside the number: 4th straight +0.3% rise in the core. Shelter costs are 30% of the CPI. Residential rents +0.4%, owners' equivalent rent +0.4%.
But its not just housing driving up inflation, the gains in inflation are broad-based due to energy cost passthrough in the supply chain.
Witness the Cleveland FED median CPI +0.4% for the 2nd straight month. Median CPI does not exclude food and energy as the Core does. Full Report.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
EIA Inventory Crude +0.2M barrels; Gasoline +1.5M; Distillate +1.2M; Propane +1.71M
Inside the number: Inventories are at all time highs, YOY Crude +15.4M; Gasoline +2.9M; Distillate +8.4M; Propane -4.522M Full Report
June Housing Starts -5.3% @ 1.85M vs prior 1.95M
Inside the number: YOY Starts -11%, New permits -15%, with markets in Virginia, DC, Mass, Florida and Texas heading off the deep end, Arizona, Nevada & California will be following. Full Report
June CPI +0.2% vs prior +0.4%; Core +0.3% vs prior +0.3%
Inside the number: 4th straight +0.3% rise in the core. Shelter costs are 30% of the CPI. Residential rents +0.4%, owners' equivalent rent +0.4%.
But its not just housing driving up inflation, the gains in inflation are broad-based due to energy cost passthrough in the supply chain.
Witness the Cleveland FED median CPI +0.4% for the 2nd straight month. Median CPI does not exclude food and energy as the Core does. Full Report.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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