Five Things You Need to Know: Parsing the PPI; China Raises the Lending Bar; Largest Home Price Drop Ever!; 2006: Year of the Contraction; 2007: Year of the Pig

By Kevin Depew  FEB 16, 2007 8:03 AM

What you need to know (and what it means!)


Minyanville's daily Five Things You Need to Know to stay ahead of the pack on Wall Street:

1.  Parsing the PPI

The Producer Price Index for Finished Goods declined a seasonally adjusted 0.6% in January, the Bureau of Labor Statistics of the U.S. Department of Labor reported today.

2.  China Raises the Lending Bar

China ordered banks to set aside more money as reserves for the fifth time in eight months to cool inflation and investment, according to Bloomberg.

3.  Largest Home Price Drop Ever!

Good news!  The National Association of Realtors yesterday afternoon reported that, for the first time ever, more than half the national metro areas it surveys reported deflating home prices on a year-over-year basis. 

4.  2006:  Year of the Contraction 

According to NAR "chief economist" David Lereah, the housing data released yesterday afternoon "confirms 2006 was the year of contraction." 

5.  2007: Year of the Pig

It's the Year of the Pig, according to the Chinese Astrological Calendar, and you know what that means:  a roller-coaster ride of conflict and unrest, natural disasters and a plunge in global stock markets.

No positions in stocks mentioned.

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