OCT29-2 NOV 12 ECO Calendar: FRANKENSTORM Meets JOBZILLA! Be AFRAID!
With indicators for 29 and 30 October slightly positive, we should be off to a good start tomorrow macro economically, to juxtapose against the damage assessments refined and coming in support of Sandy. About the only segment to take a hit would be insurers--the rest is perversely economically a sweet rather than bitter pill.
My take is something south of $20 Billion in damage was done--there's a lot of washed up homes, but only 39 or so dead if I can use the world only---compared to Japan or China catastrophe--there just isn't anyway to measure, those folks lost hundreds of billions and thousands of people in common disasters that dwarf this one. We are so pampered.
All that infrastructure needs to be rebuilt instead of make work, real damage reclamation.
The big deal is whether job stats make it out by Friday, are published next week before the big vote, or skipped altogether till post election. My feeling is, having left California out last time, those numbers are going to be more than mildly disappointing to the current regime. I can see Biden running around the seat of LABOR yelling "everybody take the rest of the week off".
Silver after sinking like a stone, leveled out in neutral after making leaps and bounds. If you could have traded you'd have made money.