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Hard Space

As seen in: Zero Hedge
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Articles by Hard Space

ISM New York Collapses To 7-Year Lows

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By Xau Xag, Boris Badenov, Miles Ahead, Hard Space
| Zero Hedge
ISM New York's purchasing managers survey collapsed in May from 57.00 to 37.2 - the lowest since April 2009. The bloodbath is the biggest monthly drop since May 2007. While 'hope' rose rather stunningly from 56.0 to 68.0 - the highest in years, current employment and 'quantity of purchases' both plunged to cycle lows. So much for that April bounce! Note we have adjusted the chart by centring ISM NY 50 print at 0 which separates expansion from contraction. Transitory?
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Dumb Money: 30% Of New Equity Investors In China Have Elementary Education Or Less, Bloomberg Says

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By Tyler Durden, Kaiser Sousa, Hard Space, Laowei Gweilo
| Zero Hedge
We’ve written quite a bit of late about the incredible rally in Chinese equities which we have variously attributed to inflows from the country’s $2 trillion shadow banking complex, a flood of liquidity from QE-lite among other sources, and Crocodile Dundee-style margin debt, all of which have combined to create what BNP recently called a “self-feeding, leverage-fueled domestic frenzy.” We now present, with little comment, the following graphic from Bloomberg — on the right is the breakdown...
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Existing Home Sales Miss (Again); Weather & "Unsuitably High Price Levels" Blamed

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By Tyler Durden, Government need., Hard Space
| Zero Hedge
Following January's disastrous dive in Existing Home Sales (which must be weather, right? Nope!) to a SAAR 4.82 million homes, February (with its even worse weather) saw a 4th month of missed expectations with a 4.88mm print against 4.90 mm expectations. As always, weather was blamed - which is odd given that the only drop in sales that occurred happened in The Northeast which accounts for just 12% of total transactions.
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