Send Article via Email

- Inventories +0.6 vs +0.3 Consensus
- October revised lower from .6 to .3
- Sales +2.3 pct vs +0.6 Consensus
- October sales revised to -0.9 from -1.2
- Sales see largest rise since March 2011
- What this all means: nothing... Not inasmuch as today's trading activity is concerned. It's a 2nd to 3rd tier piece of stale economic data that struggles to impact even calm, bored markets, let alone markets that are reeling from bullish ECB announcements and technical bounces. But it's a piece of scheduled economic data, so here it is:

The U.S. Census Bureau announced today that November 2012 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $419.3 billion, up 2.3 percent (+/-0.5%) from the revised October level and were up 5.6 percent (+/-0.7%) from the November 2011 level. The October preliminary estimate was revised upward $1.3 billion or 0.3 percent.

. Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $498.9 billion at the end of November, up 0.6 percent (+/-0.4%) from the revised October level and were up 7.0 percent (+/-1.2%) from the November 2011 level. The October preliminary estimate was revised downward $1.0 billion or 0.2 percent.

More from MND:

• MBS Commentary: MBS RECAP: Technically an Early Close, but Buyers Never Showed Up
• Mortgage Rate Watch: Mortgage Rates Hold Steady Ahead of 3-Day Weekend
• MBS Commentary: MBS MID-DAY: Negative Reprices in the AM: Breakfast of Champions
• MND NewsWire: Delinquency Rate Hits Post Housing Crisis Low for Freddie Mac
• Pipeline Press: Government Furlough Days; H.R. 1077's Impact on QM And 3% Limit; MBA on GSE risk sharing

If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.