The Banking and Strategy Initiative

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US Economy: A Politico Economic Update

Midday Update: Arizona and Michigan, a study in contrasts go to the primaries Tuesday and that home Michigan is the likeliest to jilt Romney, Newt back in a debate where more people, like in Michigan all month, have been trying to take a peep at Rick Santorum. Super Tuesday counts for only 22% of the number you need to become the candidate, everyone waiting to see the Super PACs negative campaigns against the new challenger to Romneycare.

Retailers reported sad numbers but Sears picked up on its final nod for restructuring starting with a piddly 11 to be sold down from its stores nationally. The Californian ( West Coast based) Safeway lost a pot of gold this season and retail sales have defined a new good number at 0.3% M/M and 3% Y/Y. The Grocer Kohl’s drop of 8% in Profits did not go well with the investors and “retail as the cornerstone of American recovery” believers like me as well.

House Prices were much better than expected with the FHFA House Price Index ( Hopi index , anyone) up 0.7% in December, while Y/Y comparisons just leave it down 0.3% now.

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This entry was posted on February 23, 2012 by in Financial Markets and tagged , , , , , , , .


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