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	<title>CXO Advisory &#187; Economic Indicators</title>
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		<title>Commercial and Industrial Credit as a Stock Market Driver</title>
		<link>http://www.cxoadvisory.com/19205/economic-indicators/commercial-and-industrial-credit-as-a-stock-market-driver/</link>
		<comments>http://www.cxoadvisory.com/19205/economic-indicators/commercial-and-industrial-credit-as-a-stock-market-driver/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 11:04:14 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=19205</guid>
		<description><![CDATA[...evidence indicates that the net change in commercial and industrial credit standards as measured by the Federal Reserve Board's quarterly survey of senior loan officers may be a useful predictor of U.S. stock market returns at horizons up to about a year.]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Inflation Forecast Update</title>
		<link>http://www.cxoadvisory.com/5266/economic-indicators/inflation-forecast-update/</link>
		<comments>http://www.cxoadvisory.com/5266/economic-indicators/inflation-forecast-update/#comments</comments>
		<pubDate>Thu, 19 Jan 2012 13:45:43 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=5266</guid>
		<description><![CDATA[The Inflation Forecast now incorporates actual total and core Consumer Price Index data for December 2011. The actual total (core) inflation rate for December is about the same as (slightly higher than) forecasted. The inflation seasonality summary (second chart) now incorporates data for 2011. The new actual and forecasted inflation rates will flow into Real Earnings <a href="http://www.cxoadvisory.com/5266/economic-indicators/inflation-forecast-update/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Real Bond Returns and Inflation [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/18804/economic-indicators/real-bond-returns-and-inflation/</link>
		<comments>http://www.cxoadvisory.com/18804/economic-indicators/real-bond-returns-and-inflation/#comments</comments>
		<pubDate>Wed, 11 Jan 2012 11:08:52 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=18804</guid>
		<description><![CDATA[A subscriber asked: &#8220;Everyone says I should not invest in bonds today because the interest rate is so low (and inflation is daunting). But real bond returns over the last 30 years are great, even while interest rates are low. Could you analyze why bonds do well after, but not before, 1981?&#8221; Total bond returns <a href="http://www.cxoadvisory.com/18804/economic-indicators/real-bond-returns-and-inflation/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Stock Market Reaction to FOMC Meeting Minutes Releases</title>
		<link>http://www.cxoadvisory.com/9338/economic-indicators/stock-market-reaction-to-fomc-meeting-minutes-releases/</link>
		<comments>http://www.cxoadvisory.com/9338/economic-indicators/stock-market-reaction-to-fomc-meeting-minutes-releases/#comments</comments>
		<pubDate>Wed, 28 Dec 2011 17:36:37 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=9338</guid>
		<description><![CDATA[Does the U.S. stock market reliably exhibit extreme behavior on days when the Federal Open Market Committee (FOMC) of the Federal Reserve Board issues its meeting minutes? Are the minutes systematically encouraging, discouraging, calming or exciting? Using release dates for these minutes and contemporaneous daily open, high, low and close levels of S&#38;P Depository Receipts (SPY) during February <a href="http://www.cxoadvisory.com/9338/economic-indicators/stock-market-reaction-to-fomc-meeting-minutes-releases/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
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		<title>Economic Announcements and VIX [PREMIUM]</title>
		<link>http://www.cxoadvisory.com/10100/economic-indicators/economic-announcements-and-vix/</link>
		<comments>http://www.cxoadvisory.com/10100/economic-indicators/economic-announcements-and-vix/#comments</comments>
		<pubDate>Fri, 16 Dec 2011 11:02:36 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>
		<category><![CDATA[Volatility Effects]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/?p=10100</guid>
		<description><![CDATA[Do economic announcements systematically remove uncertainty from financial markets and thus reliably lower implied volatility indexes? In their September 2010 paper entitled &#8220;The Impact of Macroeconomic Announcements on Implied Volatilities&#8221;, Roland Füss, Ferdinand Mager and Lu Zhao measure the reactions of the Chicago Board Options Exchange Volatility Index (VIX) and the DAX Volatility Index (VDAX) <a href="http://www.cxoadvisory.com/10100/economic-indicators/economic-announcements-and-vix/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Do Any Style ETFs Reliably Lead or Lag the Market?</title>
		<link>http://www.cxoadvisory.com/13547/economic-indicators/do-any-style-etfs-reliably-lead-or-lag-the-market/</link>
		<comments>http://www.cxoadvisory.com/13547/economic-indicators/do-any-style-etfs-reliably-lead-or-lag-the-market/#comments</comments>
		<pubDate>Thu, 15 Dec 2011 17:05:20 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/economic-indicators/do-any-style-etfs-reliably-lead-or-lag-the-market/</guid>
		<description><![CDATA[Do any of the various U.S. stock market size and value/growth styles systematically lead or lag the overall market, perhaps because of some underlying business/economic cycle? To investigate, we consider the the following six exchange-traded funds (ETF) that cut across capitalization (large, medium and small) and value versus growth: iShares Russell 1000 Value Index (IWD) <a href="http://www.cxoadvisory.com/13547/economic-indicators/do-any-style-etfs-reliably-lead-or-lag-the-market/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Do Any Sector ETFs Reliably Lead or Lag the Market?</title>
		<link>http://www.cxoadvisory.com/4416/economic-indicators/do-any-sector-etfs-reliably-lead-or-lag-the-market/</link>
		<comments>http://www.cxoadvisory.com/4416/economic-indicators/do-any-sector-etfs-reliably-lead-or-lag-the-market/#comments</comments>
		<pubDate>Tue, 13 Dec 2011 17:02:10 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=4416</guid>
		<description><![CDATA[Do any of the major U.S. stock market sectors systematically lead or lag the overall market, perhaps because of some underlying business/economic cycle? To investigate, we examine the behaviors of the nine sectors defined by the Select Sector Standard &#38; Poor&#8217;s Depository Receipts (SPDR), all of which have trading data back to December 1998: Materials <a href="http://www.cxoadvisory.com/4416/economic-indicators/do-any-sector-etfs-reliably-lead-or-lag-the-market/"><strong>More...</strong></a>]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/4416/economic-indicators/do-any-sector-etfs-reliably-lead-or-lag-the-market/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Money Velocity and the Stock Market</title>
		<link>http://www.cxoadvisory.com/18061/economic-indicators/money-velocity-and-the-stock-market/</link>
		<comments>http://www.cxoadvisory.com/18061/economic-indicators/money-velocity-and-the-stock-market/#comments</comments>
		<pubDate>Tue, 06 Dec 2011 11:02:42 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com/18061/economic-indicators/money-velocity-and-the-stock-market/</guid>
		<description><![CDATA[Regarding &#8220;Money Supply (M2) and the Stock Market&#8221;, a subscriber responded: &#8220;I&#8217;ve always thought&#8230;that both M2 and velocity were needed. If there&#8217;s more money, but it is not circulating, then it doesn&#8217;t have a chance to have much impact. That&#8217;s the situation we have right now for the most part?&#8221; The Federal Reserve Bank of <a href="http://www.cxoadvisory.com/18061/economic-indicators/money-velocity-and-the-stock-market/"><strong>More...</strong></a>]]></description>
		<wfw:commentRss>http://www.cxoadvisory.com/18061/economic-indicators/money-velocity-and-the-stock-market/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Money Supply (M1) and the Stock Market</title>
		<link>http://www.cxoadvisory.com/4161/economic-indicators/money-supply-m1-and-the-stock-market/</link>
		<comments>http://www.cxoadvisory.com/4161/economic-indicators/money-supply-m1-and-the-stock-market/#comments</comments>
		<pubDate>Thu, 01 Dec 2011 11:06:01 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=4161</guid>
		<description><![CDATA[A reader wrote: &#8220;I couldn&#8217;t find an analysis for the M1 money supply similar to the one for M2. How about it? M2 cannot be an accurate money supply measure because it includes non-cash investments such as money market mutual funds. When the stock market corrects and people are exchanging stocks for say, money market <a href="http://www.cxoadvisory.com/4161/economic-indicators/money-supply-m1-and-the-stock-market/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Money Supply (M2) and the Stock Market</title>
		<link>http://www.cxoadvisory.com/4134/economic-indicators/money-supply-m2-and-the-stock-market/</link>
		<comments>http://www.cxoadvisory.com/4134/economic-indicators/money-supply-m2-and-the-stock-market/#comments</comments>
		<pubDate>Tue, 29 Nov 2011 11:08:14 +0000</pubDate>
		<dc:creator>Steve LeCompte</dc:creator>
				<category><![CDATA[Economic Indicators]]></category>

		<guid isPermaLink="false">http://www.cxoadvisory.com.php5-14.websitetestlink.com/?p=4134</guid>
		<description><![CDATA[Some investing experts cite change in money supply as a potentially important indicator of future stock market behavior. When the money supply grows (shrinks), they theorize, nominal asset prices go up (down). Or, money supply growth drives inflation, thereby elevating discount rates and depressing equity valuations. One measure of money supply is the M2 money <a href="http://www.cxoadvisory.com/4134/economic-indicators/money-supply-m2-and-the-stock-market/"><strong>More...</strong></a>]]></description>
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		<slash:comments>0</slash:comments>
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