Data Watch - March 23rd

light data day today, but most of the attention will be focused in any case on Geithner's long-awaited unveiling at 8:45 of the details of his plans to deal with the toxic assets on bank balance sheets (in some form of public-private partnership designed to obfuscate the size of the government subsidy being handed out)

CANADA

leading indicators, which were expected to fall 0.9% for February, fell 1.1%, plus downward revision to January; the only component of the ten in the index that was up for the month was money supply


US (updated)

existing home sales for February rose 5% to 4.7m, contrary to expectations of a 1% fall; sales of foreclosed properties account for about 2 out of every 5 sales, according to the NAR; median and average prices were both up for the month from January's big drop; unfortunately, inventories were up as well, so months' supply remains just under 10

the Chicago Fed's National Activity Index rebounded to -2.83 for February, as three of the four broad categories improved, though all four remain in negative; December and January were both revised lower

INTERNATIONAL

just 2nd-tier data in Japan (chain-store sales down 5.4% YoY) and Europe (trade deficit widened)