EICKnotes for Nov 1, 2013

1. US Budget Deficit Continues to Fall

The US 2013 Budget Deficit continues to fall at record speed. The 2013 deficit has fallen to 680B (4.1% of GDP) from 1.08T (6.8% of GDP) in 2012. It has fallen from a 1.5% increase in tax receipts and a 1.2% fall in outlays. Seems like a balanced approach to me, you have to wonder what all the political fighting is all about. (Treasury)

2. US Economic Growth Might Be Accelerating…

The Chicago PMI came in at 65.9, a big increase from previous months 55.7 and above the expansionary threshold of 50. (ISM) , (CNBC)

3. QE all the time…

People don’t seem to be talking about anything but QE these days. Not sure it really has much real economy impact but with everyone believing that it does, it could be ugly when it stops.

4. The Bottom of the News

  • The Role of Personal Chemistry in Investment Selection (AVC)
  • The Problem with Market Neutral (Mebane Faber)
  • 15 Facts That Reveal The Utter Insanity of Britain’s Housing Market (BuzzFeed)
  • TARP, Five Years Later (Conversable Economist)

By Jon Eickmeier | November 1, 2013 | links curated markets economics EICKnotes

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