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Blame Gas Prices?
US consumers felt incrementally worse this month about their economic prospects.
That's according to a mostly uneventful read on the Conference Board's gauge, the first ostensibly tradable print of this week's data deluge in the world's largest economy.
At 100.2, the headline index was a slight beat. Consensus was looking for 100 on the nose. It nevertheless marked a four-month low (figure below). The range of estimates, from 59 highly-trained professionals, was 97.5 to 103.9.
The present s
Highly trained professionals………..LOL
Oil and gas prices stink of manipulation. Those high energy prices were basically the GOP’s case for ousting democrats in the midterms. Now that midterms are over the prices suddenly fall back to earth with no discernable change in energy production nor the war in Ukraine? Okay, good one big oil, those campaign ads you funded and also drove did some great work!
Russia is trying to sell as much oil as possible prior to a price cap, causing inventory builds. That’s why we see the current price action.
“I love the smell of stagflation in the morning.” Nice finishing touch!