US Economic Radar: Yellen, M2, SSS, FOMC

US Economic Radar: Yellen, M2, SSS, FOMC

U.S. Federal government is still shutdown, so backlogged economic releases are starting to pile up. Even without those reports though it was still a very eventful economic week.

A recap of this week’s U.S. economic events:

  1. President Obama nominated Janet Yellen to be the next Chair of the U.S. Federal Reserve.
  2. The minutes from the FOMC’s September 17-18 meeting were released. Attitudes were little changed.
  3. Total consumer credit outstanding increased at an annual rate of 5.4% in August.
  4. Initial jobless claims for the week spiked to 374k due to the government shutdown. The insured unemployment rate was 2.2%.
  5. New indicator: Now tracking the NFCI, which suggested that financial conditions are tighter than they were a week ago.
  6. The preliminary reading of consumer sentiment in October declined to 75.2.
  7. National gas prices declined to $3.37 per gallon in September.
  8. Stores sales weakened during the government shutdown.
  9. M2 increased 0.47% from a week ago.

Further U.S. economy reading this week:

Corsair Took A Hit From Small-Cap Underperformance In Q3; Says Evergrande Not The Next Lehman Brothers

Corsair CapitalCorsair Capital was down by about 3.5% net for the third quarter, bringing its year-to-date return to 13.3% net. Corsair Select lost 9.1% net, bringing its year-to-date performance to 15.3% net. The HFRI – EHI was down 0.5% for the third quarter but is up 11.5% year to date, while the S&P 500 returned 0.6% Read More

Economic releases that have been skipped over the last two weeks and will presumably be published sometime next week when the government gets it act together:

All U.S. leading economic indicators, where they currently stand, what their trend has been, and how their current status relates to the historical movement in that indicator.

Economic Radar

Schedule for the week ahead, assuming the government is active:

Monday, October 14, 2013

Tuesday, October 15, 2013

  • Empire State Manufacturing Survey – Last at +6.29.
  • Weekly Store Sales

Wednesday, October 16, 2013

  • Consumer Price Index – Last +1.5% Y/Y.
  • Beige Book
  • Weekly National Financial Conditions Index

Thursday, October 17, 2013

  • Housing Starts – Last at 891k SAAR.
  • Industrial Production – Last up 2.5% Y/Y.
  • Philly Fed Manufacturing Survey – Last at +22.3.
  • Weekly Initial Jobless Claims
  • Weekly Money Supply

Friday, October 18, 2013


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