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September 8, 2016 By Peter Boockvar

Jobless Claims, Draghi, China and more…

Initial jobless claims fell to 259k from 263k last week. The estimate was 265k. This brings the 4 week average to 261k from 263k last week. Continuing claims, delayed by a week, fell by 7k after rising by 6k in the week prior. Bottom line, the story remains the same in that the pace of firing’s remain modest and is likely due in part to employer’s holding on tight to …

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September 7, 2016 By Peter Boockvar

Beige Book, Job Openings, Mortgage Apps, and more…

I don’t think anyone should be surprised by the Beige Book. As to what it means for the next Fed meeting, will they focus most on the employment and inflation data and check off their dual mandate box with another hike or will they actually look at all the economic data and sit on their hands, again. I’ll say for the umpteenth time, the economic data certainly doesn’t …

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September 6, 2016 By Peter Boockvar

ISM, Payrolls, FOMC, BoJ

The ISM non manufacturing index for August was weak, falling to 51.4 from 55.5 in July and that was well below expectations of 54.9. This is the worst print since February 2010 when it was at 50.8. New orders sunk by 9 pts to just above 50 at 51.4. Backlogs fell back below 50 at 49.5 vs 51 in July. Employment was barely above 50 at 50.7, down .7 pts. Export orders …

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August 26, 2016 By Peter Boockvar

8/26 – A Succinct Summation of the Weeks Events

note: I will on vacation next week. Have a great last week of the Summer and I'll see you here afterwards. Positives: Core capital spending orders, defined as non defense capital goods ex aircraft, rebounded in July. They rose 1.6% m/o/m, well more than expectations of up .2% but they still remain deep in contraction on a y/o/y basis, by 7.1%. Initial …

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August 26, 2016 By Peter Boockvar

Yellen Emerges, Sees Her Shadow, 4 More Weeks

In Janet Yellen’s speech titled The Federal Reserve’s Monetary Policy Toolkit (read full text here) she used Jackson Hole as a venue to discuss the near term outlook for the US economy and what it means for monetary policy. She said specifically on policy: “Based on this economic outlook, the FOMC continues to anticipate that gradual increases in the federal funds …

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August 24, 2016 By Peter Boockvar

Peter: 5 yr Auction, Housing. Libor

After yesterday’s improved 2 yr note auction compared with the poor one seen in June, the 5 yr auction was better as well. The yield was below the when issued, the bid to cover was above the one year average and direct and indirect bidders took 75% of the auction vs the previous 12 month average of 66%. Bottom line, the market doesn’t believe the Fed is raising …

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August 23, 2016 By Peter Boockvar

New home sales, Markit Manufacturing, Richmond Fed and more…

New home sales in July totaled 654k, well above the estimate of 580k and up from 582k in June. This is the best pace of sales in this recovery and was mostly driven by a 61k home sale increase in the South. The West and Midwest were flat and the Northeast rose by 10k. With the rise in sales, months’ supply fell to 4.3 from 4.9, the lowest since 2013. Fortunately for …

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August 22, 2016 By Peter Boockvar

She’s the one they call Dr. Feelgood?

“She’s the one they call Dr. Feelgood, she’s the one that makes ya feel alright.” I know, Motley Crue is not for everybody and I’ve substituted She for He, but I lay out the lyrics just days before we hear from our monetary Dr who is not just an academic doctorate. Ben Bernanke and Alan Greenspan went to the same med school where markets LOVED the monetary drugs that …

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August 19, 2016 By Peter Boockvar

8/19 – A Succinct Summation of the Week’s Events

Positives: Initial jobless claims totaled 262k, 3k less than expected and down 4k from last week. As a print of 252k comes out of the 4 week average, the new average rose to 265k, the most in 6 weeks from 263k but it’s still very low. July CPI was flat headline as expected and rose .1% core which was one tenth less than expected. On a y/o/y basis, prices were …

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August 18, 2016 By Peter Boockvar

Jobless Claims, Philly, BoJ, UK

Initial jobless claims totaled 262k, 3k less than expected and down 4k from last week. As a print of 252k comes out of the 4 week average, the new average rose to 265k, the most in 6 weeks from 263k but it’s still very low. Continuing claims, delayed by a week, rose 15k after a 19k increase last week. It’s quietly at the highest level since late March. Something to …

[Read more...] about Jobless Claims, Philly, BoJ, UK

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About Peter

Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor. Each day The Boock Report provides summaries and commentary on the macro data and news that matter, with analysis of what it all means and how it fits together.

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Disclaimer - Peter Boockvar is an independent economist and market strategist. The Boock Report is independently produced by Peter Boockvar. Peter Boockvar is also the Chief Investment Officer of Bleakley Financial Group, LLC a Registered Investment Adviser. The Boock Report and Bleakley Financial Group, LLC are separate entities. Content contained in The Boock Report newsletters should not be construed as investment advice offered by Bleakley Financial Group, LLC or Peter Boockvar. This market commentary is for informational purposes only and is not meant to constitute a recommendation of any particular investment, security, portfolio of securities, transaction or investment strategy. The views expressed in this commentary should not be taken as advice to buy, sell or hold any security. To the extent any of the content published as part of this commentary may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. No chart, graph, or other figure provided should be used to determine which securities to buy or sell. Consult your advisor about what is best for you.

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