Resolution of the fiscal cliff issue has flipped the risk-on/risk-off switch and money is flowing to risk assets and out of the safety of Treasurys. The bigger picture is that this was a conjured issue. Close to zero was done to address the longer term fiscal health of the United Steted government.
Chain Store Sales (week ended 12/29/2012)
ICSC-Goldman Store Sales
– Store Sales – Week/Week +0.6%
– Store Sales – Year/Year 2.7%
– Store Sales Year/Year +2.9%
Construction Spending (November 2012)
– Construction Spending – Month/Month -0.3%. Previous was +1.4%
Manufacturing (December 2012)
ISM Manufacturing Index
– Index Level 50.7. Previous was 49.5.
A reading above 50 indicating growth. This Index has been negative 4 of the last 7 months indicating a flat sector.
PMI Manufacturing Index
– Index Level 54.0. Previous was 52.8. This is a survey Index produced by Markit Economics and currently it indicates growth.