Thursday, November 09, 2006

No signals today

Mixed bag of economic data today. Import prices were low, inventories high, and consumer confidence low. That bolsters the bond bull's position. But jobless claims and the trade deficit were both low, which bolsters the bond bear's position. None of these are numbers I'm all that interested in. We really have to wait until Tuesday of next week to get anything real meaningful with PPI and retail sales. I'm focused on generalized inflation figures and consumer spending, and to a lesser extent, housing inventories.

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