New Deal democrats Weekly Indicators for April 13 – 17

My “Weekly Indicators” post is up at Seeking Alpha.

The biggest news this week is how sharply oil prices backed off of their recent highs, as speculators figure that all will soon be back to (at least close to) the status quo ante in the Persian Gulf. Secondarily, the Empire State and Philly Manufacturing Indexes continued the theme of a rebound in that sector.

As usual, clicking over and reading will bring you up to the virtual moment as to the state of the economy, and bring me a penny or two in lunch money for my efforts.

Other Econ. Info.

• All major timeframes for economic indicators remain positive, with financial markets showing particular strength in bond spreads and stock prices.

• Long leading indicators are buoyed by positive bond market spreads, though rising interest rates have turned mortgage applications sharply negative.

• Short leading indicators are stable, supported by low layoffs and a manufacturing rebound, but surging commodity prices signal supply-driven negatives.

• Coincident indicators reflect robust consumer spending and mixed rail/tax data; there is no current evidence of consumer retrenchment despite higher gas prices.