Bailout

Friday Night Summary

By Anonymous

The euro declined to 1.2274 dollars on the news. The TED spread increased to 38.11. This is still fairly low, but has been increasing ... Note: This is the difference between the interbank rate for three month loans and the three month Treasury and is considered a measure of credit stress. The peak was 463 on Oct 10th and a normal spread is below 50 bps.

The BEA reported April Personal Income up 0.4%, Spending up slightly.

The Institute for Supply Management ? Chicago reported the "CHICAGO BUSINESS BAROMETER eased" and "EMPLOYMENT slipped below neutral". New orders were softer, and it appears the inventory adjustment is over.

The National Restaurant Association index decreased slightly, but still showed some expansion. Same store sales and customer traffic both showed declines in April.

And a few interesting articles:

And from the NY Times: BP Engineers Making Little Headway on Leaking Well

Best to all.

Full post as published by Calculated Risk on May 29, 2010 (boomark / email).

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