MBA Mortgage Applications (Nov 30)
Mortgage banking purchase index is holding above 400 since April, and up nicely year over year. The ÃƒÂ¢Ã¢â€šÂ¬Ã‹Å“multiple applicationÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢ story is getting old.
Challenger Job Cuts YoY (Nov)
Modest improvement- doesnÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢t look like a recession has started.
ADP Employment Change (Nov)
No weakness here- prelude to FridayÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢s employment number.
Nonfarm Productivity (3QF)
More real output from the same amount of labor input, further questions the deflator for Q3.
Unit Labor Costs (3QF)
As above, the q3 deflator looked suspiciously low.
This should adjust with q4 numbers.
Factory Orders (Oct)
Boring, and not worse than Fed forecasts.
ISM Non-Manufacturing (Nov)
ItÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢s been drifting lower with falling budget deficit, but exports propping up gdp.
Probably not any worse than Fed forecasts.