Economics Update

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Scary Picture of the Day:
Commercial Mortgage Back Security Amounts by Maturity Date


Or Maybe this is the Scary Picture, H/T Calculated Risk


Philadelphia Fed Index, State by State


Philadelphia Fed Index, Historical

As a Friday bonus, here is Barry Ritholtz, of The Big Picture schooling a blissfully ignorant 'Phant Congressman on the Consumer Protection Agency:

Good news, everyone Existing home sales hit a two year high...Or maybe not...As Barry Ritholtz notes, there is an increase only when factoring seasonal adjustments, it fell otherwise, and those adjustments are problematic when under such circumstances.

Reinforcing Mr. Ritholtz', and my, opinion of the state or real estate is the fact that Freddie Mac's September delinquencies hit an all time high. (top graph)

More generally, we have the Philly Fed State Coincident Index continuing to show widespread weakness. (3^rd and 4^th graph down)

Also, we have the little employment tidbit that the
average unemployment period has hit 6 months, an all time high.

On the other side of the pond, UK GDP fell at twice the forecast rate, 0.4%, in the 3^rd quarter.

Finally, both the dollar and the Pound Sterling rose against the Euro, and oil fell again, though it is still above $80/bbl.