February 2017 Pending Home Sales Index Improves?


Written by Steven Hansen

The National Association of Realtors (NAR) seasonally adjusted pending home sales index rebounded to the second highest level in a decade. Our analysis says the opposite but the rolling averages insignificantly improved. The quote of the day from this NAR release:

... Looking ahead to the busy spring months, Yun expects to see continued ebbs and flows in activity as new supply struggles to replace listings that are going under contract at a very quick pace. ...

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What We Read Today 28 March 2017

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

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The Need For Very Low Interest Rates In An Era Of Subdued Investment Spending

from Liberty Street Economics

-- this post authored by Thomas Klitgaard and Harry Wheeler

Why have interest rates stayed low for so long after the financial crisis - and will they remain low for the foreseeable future? One way to answer these questions is to use the accounting identity that global saving must equal physical investment spending and argue that low rates have been necessary to prop up investment spending enough to match saving.

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Infographic Of The Day: Which Countries Are Going In The Right Direction

With so much polarization on key issues, it's tough to get a pulse on where the world is heading.

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Video of the Day:

NASA is flight testing next-generation lander navigation technology through the CoOperative Blending of Autonomous Landing Technologies (COBALT) project. The technologies will enable future exploration destinations on Mars, the moon, Europa, and other planets and moons. The integrated system is being flight tested onboard a Masten Space Systems suborbital rocket vehicle called Xodiac.

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Current Weather Outlook

Written by

Short-term the lower Mississippi Valley seems prone to flooding issues and tornadic activity. Some models are predicting an Active Phase of the MJO for April and May. This could consolidate the two branches of the Jet Stream and trigger Kelvin Waves. If there was warm water in the Indo-Pacific Warm Pool this could induce an El Nino.


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29Mar2017 Pre-Market Commentary: Wall Street To Open Flat And Session May End In The Red, US Dollar Stronger Due To The Brexit Move, Crude Prices Slip

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Free Immigration Is The Moderate, Common-Sense Position

by FEE,

-- this post authored by Bryan Kaplan

There are many complaints about governments, but the harshest is, 'This government grossly violates human rights.' The background assumption is that human beings have rights that everyone - including governments - is morally obliged to respect.


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 USA economy at a glance (boxed items are updates in last 7 days)

March 2017 Conference Board Consumer Confidence Highest Since 2000

Written by Jill Mislinski

The latest Conference Board Consumer Confidence Index was released this morning based on data collected through March 16. The headline number of 125.6 was a sharp increase from the final reading of 116.1 for February, an upward revision from 114.8. Today's number was above the consensus of 114.0.

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