- Inside the showdown atop Pimco - WSJ
- More folksy wisdom from politicians - Calculated Risk
- BlackBerry CEO John Chen talks 'Jakarta,' 'Q20,' 'BES 12,' - Barron's
- Debt and growth: credit junkies - Economist
- China iron-ore imports set to rise - WSJ
-Thomas Friedman
Much to my dismay, I will be forced to spend most of the day away from my desk. Forgive me (or perhaps thank me) for the light commentary.
Asian markets were mixed overnight, as Shanghai continued its sell-off this week losing another 2.56%. Hong Kong was basically flat and the Nikkei added 1.44%. European markets are modestly lower at the time of this writing, the FTSE is off 0.85% and the DAX is down 0.49%.
US futures are slightly lower, although it is only 6:45am so it's anyone's guess. /ES -3.25, /YM -18.00, and /NQ -5.75. Crude oil is down $1.00 in early trading this morning to $101.82.
News flow for today will be focused primarily on housing, with the Case-Shiller home price index and FHFA index releasing at 9:00am. Consumer confidence numbers for Feb hit the tape at 10:00am. Housing data has been weak lately, due to weather and higher prices; however, I still think homebuilders are poised to be a strong performer (see Friday's evening read) over the next 1-2 years.
Put the odds in your favor today.
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