Economic Reports 09/29/06; PCE, Sentiment, PMI
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.
2 year note auction $20 B, yield 4.660%, bid to cover 2.84 vs avg 2.26, indirect bidders a strong 36.6%.
5 year note auction $14 B, yield 4.569%, bid to cover 2.77 vs avg 2.23, indirect bidding a very strong 57.2% vs avg 23.5%
September Michigan Sentiment 85.4 vs prior 82. The consumer is optimistic.
September Chicago PMI 62.1 vs prior 57.1
Inside the number: The strongest reading in a year. New orders 67.3% from 59.6%, production index 67.4% from 61.7%, prices paid 75.2% from 86.8%. Still perculating in Chitown.
August PCE, Personal Income & Spending Full Report
Inside the number: Core consumer prices +0.2%, core PCE +2.5% this year, the most since 1995, while consumer spending decelerating +0.1% vs prior +0.8%.
Adjusted for inflation: real spending -0.1%, durable goods -1.3%, nondurable -0.2%. Income & spending at their slowest pace this year, while core inflation running at its fastest pace in 11 years.
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!
2 year note auction $20 B, yield 4.660%, bid to cover 2.84 vs avg 2.26, indirect bidders a strong 36.6%.
5 year note auction $14 B, yield 4.569%, bid to cover 2.77 vs avg 2.23, indirect bidding a very strong 57.2% vs avg 23.5%
September Michigan Sentiment 85.4 vs prior 82. The consumer is optimistic.
September Chicago PMI 62.1 vs prior 57.1
Inside the number: The strongest reading in a year. New orders 67.3% from 59.6%, production index 67.4% from 61.7%, prices paid 75.2% from 86.8%. Still perculating in Chitown.
August PCE, Personal Income & Spending Full Report
Inside the number: Core consumer prices +0.2%, core PCE +2.5% this year, the most since 1995, while consumer spending decelerating +0.1% vs prior +0.8%.
Adjusted for inflation: real spending -0.1%, durable goods -1.3%, nondurable -0.2%. Income & spending at their slowest pace this year, while core inflation running at its fastest pace in 11 years.
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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