Economic Reports 02/08/07
Bond Auction: $9B in new 30 year bonds attracted solid demand, 42.1% indirect bids, bid to cover 2.41, high yield was 4.740%.
Initial Claims 02/03 - +4K @ 311K Full Report
Inside the number: 4 week MA +3.250K @ 308,250. Continuing claims -54K @ 2.49M, 4 week MA +20K @ 2.50M
Wholesale Inventories Dec -0.5% vs prior revised down to +1.1% Full Report
Inside the number: Inventories & Sales both +8.6% in the last 12 months. Durable goods +1.1%, Autos +2.9%, Auto inventories -2.8%, largest drop since 1998 on massive discounts & incentives.
The Commerce Department was much too optimistic when it reported that GDP grew at a 3.5% rate in Q4. Analysts said that the inventory and other data now point to a downward revision to a 2.5% growth rate.
Initial Claims 02/03 - +4K @ 311K Full Report
Inside the number: 4 week MA +3.250K @ 308,250. Continuing claims -54K @ 2.49M, 4 week MA +20K @ 2.50M
Wholesale Inventories Dec -0.5% vs prior revised down to +1.1% Full Report
Inside the number: Inventories & Sales both +8.6% in the last 12 months. Durable goods +1.1%, Autos +2.9%, Auto inventories -2.8%, largest drop since 1998 on massive discounts & incentives.
The Commerce Department was much too optimistic when it reported that GDP grew at a 3.5% rate in Q4. Analysts said that the inventory and other data now point to a downward revision to a 2.5% growth rate.
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