Update: New Home Sales rise 0.3% in April, March revised to show a SERIOUS SLIDE in March dropping 3.00%…Market Movers Thursday: Economic Data; Treasury Auctions, Fed Buying

Update 2: New Home Sales rose a mere 0.3% in April… Pffffft!!, and March revised lower, but of course!:

The Commerce Department said sales rose 0.3 percent to a 352,000 annual pace, from a downwardly revised 351,000 in March. March sales were revised to show a 3 percent decline, which had been reported as a 0.6 percent slide. Economists polled by Reuters had forecast sales at a 360,000 rate in April…

Update: Economic Data in– Jobless claims drop but continuing claims hit yet another record, Treasury action later today:

The Labor Department reports that the number of initial claims for unemployment insurance dropped to a seasonally adjusted 623,000, from a revised figure of 636,000 in the previous week. That was below analysts’ expectations of 635,000.

..The number of people continuing to receive unemployment benefits increased to 6.78 million, the largest total on records dating back to 1967 and the 17th straight record week…

Durable goods orders rise but past numbers revised lower, anyone see a pattern emerging?

April’s 1.9 percent increase in durable goods orders was the biggest percentage advance since December 2007, when orders rose 4.1 percent, the Commerce Department said.However, March orders were revised sharply lower, falling 2.1 percent from the previously reported 0.8 percent decline…

Durable good orders, new home sales and weekly jobless claims data Thursday morning.

..Weekly claims are expected to come in at 625,000, down from last week’s 637,000…

Art Cashin on Treasury auction Thursday:

…”The one I’m most worried about” is Thursday’s Treasury auctions, Cashin said. “It’s kind of a strange one,” as the Federal Reserve is expected to buy Treasurys that will mature in three to five years.

Wednesday’s spike in yields, especially on the 10 yr, concerns over dropping refis as mortgage rates climb with the long end of the curve and the apparent failure of the FED quantitative easing to control mortgage rates, they cant control the long end, inflation is coming ….

CNBC:

…A selling spree in Treasurys pushed rates higher, taking the yield curve to its steepest on record as spreads between the 2-year and 10-year widened by over a dozen basis points on Wednesday alone.The 10-year saw its yield move above 3.70 percent, after trading at 3.55 percent the previous day. The selling wave hit bonds shortly after 1 p.m., even after the auction of $35 billion in 5-year notes was well received…

..Traders are bracing for more of the same Thursday. The Treasury is auctioning another $26 billion in notes, this time 7-years. The heavy issuance – more than $100 billion this week alone – has been pressuring the market…

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May 27, 2009. Tags: , , , , , , , , , , , , , . Economy, Foreclosures, Housing, Labor Department, Uncategorized, Unemployment Statistics, Wall St. Comments off.

Avatar Interview with James Cameron

Avatar Interview with James Cameron

Vodpod videos no longer available.

Best thing about T4 was clearly Worthington, cant wait to see Avatar where he gets an actual plot and good director to work with, pfft! Hey he is wearing a Master of Puppets shirt, helloo! lol, love that 🙂 SciFiWire reports Avatar will have a three month run in IMAX…

From EAsylumm

Stills from Avatar set, betcha many Bothans died to get us these stills:

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May 27, 2009. Tags: , , , . Entertainment, Fantasy, Film, Popular Culture, Sci Fi, Uncategorized. 1 comment.

Dow giveth, Dow taketh away, down 183 as TOTUS plays Caesars…

May 27, 2009 Obama @ Reid Fundraiser

DOW down 180 to 8294

S/P down 18 to 892

NAS down 20 to 1731

Vodpod videos no longer available.

Everyone who lived through the Carter 70s recognizes what is happening in the economy unless they’re in D-E-N-I-A-L, the last time someone in Vegas tried a stunt like Team TOTUS is pulling on deficit spending, well it reminds me of when Evel Kneivel played Caesar’s and it did not end well…here is Evel in better days…

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May 27, 2009. Tags: , , , , . Economy, Entertainment, Politics. Comments off.

Political Wrap: In Gordon Brown’s footsteps, VAT tax floated..Jokin Joe slams TOTUS..ReasonTV slams Joe…

Update:

As the Obama Administration BOLDLY takes the deficit where no deficit has gone before …hilarity ensues….

From Ambinder:

Vice President Joe Biden gives as good as he gets. His response to a malfunctioning teleprompter at the U.S. Air Force Academy graduation in Colorado Springs, Colorado:

“What am I going to tell the president? I’ll tell him his Teleprompter is broken. What will he do then?

By ReasonTV

The terrifying thing is they are ALREADY floating a federal sales tax/VAT tax in the Obamedia, call your Critters before the horror of European VAT tax raises it’s ugly head any higher…PATRICULARLY BUDGET CMTE SEN. KENT CONRAD ND who apparently embraces the VAT concept…maroon!!

Demonstrators called for a suspension of value-added tax on food in Manila last year. Such a tax is attracting real interest among U.S. policymakers. (By Romeo Gacad -- Agence France-presse Via Getty Images) WaPo

Demonstrators called for a suspension of value-added tax on food in Manila last year. Such a tax is attracting real interest among U.S. policymakers. (By Romeo Gacad -- Agence France-presse Via Getty Images) WaPo

May 27, 2009. Tags: , , , , , , , , , , , , , , , . Economy, Finance, Music, Obama Administration, Politics, Reggae, Taxes, Uncategorized. Comments off.

Spaced…

Cannot believe I missed this hidden gem for 10 years!!! Available on DVD and YouTube, tho’ embedding is for the most part disabled…

Go here to see the BEST Phantom Menace Discussion evah, lol and see here for best faux gunfight evah…

(more…)

May 27, 2009. Tags: , , , , , , , . Comedy, Entertainment, Fantasy, Film, Horror, Popular Culture, Sci Fi, Simon Pegg, Star Trek, Uncategorized. Comments off.

Home Sales Rise along with Inventories – CNBC.com

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May 27, 2009. Tags: , , , , , , , , , , , . Economy, Foreclosures, Housing, Uncategorized, Wall St. Comments off.

Transforminators…

BWAAAAHAAAAAA!!!

By Black20 courtesy of TubeMastah

May 27, 2009. Tags: , . Entertainment, Fantasy, Film, Popular Culture, Saturday Morning Cartoons, Sci Fi, Uncategorized, Warner Bros.. Comments off.

Outlook From the Bond King – CNBC.com

Mohamed El-Erian of Pimco on the future of the economy….

a PRIVATE SECTOR LED ECONOMY to reduce unemployment he advises, gee what a novel idea!! Notice the yields on the 10 yr Mohamed references….

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May 27, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , . Economy, Finance, Labor Department, Obama Administration, Politics, Taxes, Uncategorized, Unemployment Statistics, Wall St. Comments off.

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