Monday, November 23, 2015

Tuesday: GDP, Case-Shiller House Prices

by Bill McBride on 11/23/2015 08:11:00 PM

A couple of people were too kind today:

From Paul Krugman: Shorts Subject

Last night I was invited to a screening of The Big Short, which I thought was terrific; who knew that CDOs and credit default swaps could be made into an edge-of-your-seat narrative (with great acting)?
I'm looking forward to seeing the movie.

And from Joseph Weisenthal at Bloomberg: Bloomberg TV’s What’d You Miss? thinks of linear TV as “a source of content for online video”
This guy in California named Bill McBride who runs a blog called Calculated Risk. He was one of the best and greatest chroniclers of the housing market. He was talking about how the housing market was really in trouble as early as 2005. His blog was a must-read. On the way down, he also nailed the situation perfectly. And then, unlike a lot of the people who were calling for doom and gloom in 2009 and 2010, he started talking about the rebound of the economy.
Thank you.  My co-blogger during the bubble, Doris "Tanta" Dungey, always blushed when people said nice things about her - and it happened frequently to her.   As an aside, Tanta's birthday was Nov 15th and she would have been 54.  When people mention that time period, I always think of "T".  Tanta Vive!

• 8:30 AM ET: Gross Domestic Product, 3rd quarter 2015 (Second estimate). The consensus is that real GDP increased 2.1% annualized in Q3, revised up from the advance estimate of 1.5%.

• At 9:00 AM, S&P/Case-Shiller House Price Index for September. Although this is the September report, it is really a 3 month average of July, August and September prices. The consensus is for a 5.3% year-over-year increase in the Comp 20 index for September. The Zillow forecast is for the National Index to increase 4.7% year-over-year in September.

• At 10:00 AM, the Richmond Fed Survey of Manufacturing Activity for November