S&P: Keep a close eye on the yield curve which is succumbing to all sorts of pressures. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

S&P SHORT TERM TRADER: Short at 2500; stop well above 2625. Target 2200.

S&P POSITION TAKER: Short at 2485; stop above 2625. Target 2075.

Nationwide house price slump Biggest monthly drop in years

This morning the UK’s Nationwide building society announced a surprising 0.7 per cent house price fall in December, matching that of March 2012, in turn the biggest M/M fall since December 2008. This took the annualised house price rise to a mere 0.5 per cent and the slowest rate of increase in almost 6 years.

Yesterday afternoon December data published by the Institute of Supply Managers on manufacturing activity suddenly slipped to 54.1 from 59.3 the previous month. The reading was the lowest in 2 years and the sharpest M/M fall since 2008.

Financial Markets and Political Commentary
 

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