Pending home sales in the US fell more than expected in April, data out Thursday showed. The 3.9% decline was nearly twice as large as
Category: economy
Surveys Show US Economy Slowing In Real Time
A report showing a veritable plunge in new home sales wasn’t the only US data release to disappoint expectations on Tuesday. Flash reads on S&P
Will ‘The Big Change’ Macro Theory Go Bust?
In “Trial By Fire: Are Corporate Profits About To Plunge?” I made a casual observation about the size of earnings declines witnessed during recent recessions.
So, You’re Finally Awake To America’s Inventory Problem
It wasn’t so long ago that the idea of “excess” anything seemed patently absurd. The post-pandemic macro reality is defined by shortages, after all. Shortages
Existing Home Sales Drop Again. More Declines Called ‘Imminent’
More cracks in the foundation? Or perhaps it’s “just a supply thing.” You can write your own script, but existing US home sales fell more
Expectations Crash In Poor Philly Fed Survey
Strike up the recession band. Just three days after Empire manufacturing plunged the most since the early days of the pandemic, the Philly Fed gauge
Mr. Powell, Tear Down This Housing Bubble!
US housing starts and building permits fell in April, data out Wednesday showed. Markets are on high alert for signs of a slowdown in America’s
UK’s Inflation Crisis Rolls On, Jolted By Energy Shock
The UK’s cost of living crisis escalated in April, when consumer prices rose the most since 1982. The 9% YoY increase was the largest since
Americans Kept Shopping In April. Maybe That’s Bad
US retail sales were solid in April, closely watched data out Tuesday suggested. The headline print showed a 0.9% gain (figure below), essentially in line
Wild Drop In Empire Gauge Fans US Growth Fears
On Sunday, I wrote that May prints on the Empire and Philly gauges (both due this week) would be “scrutinized for evidence of a slowdown.”
‘Panic,’ ‘Chaos’ Feared As India Bans Wheat Exports
The global macro outlook took another turn for the apocalyptic on Saturday, as the world pondered India’s decision to ban wheat exports. “There is a
Markets Get More Bad News As Pipeline Inflation Pervasive
US producer prices accelerated at a double-digit annual pace for the fifth consecutive month in April, data out Thursday showed. The final demand gauge rose
Dudley Chides Fed’s ‘Sugarcoating.’ El-Erian Warns Of Inflation ‘Crisis’
In late March, around the time the 2s10s inverted, Bill Dudley penned a somewhat abrasive Op-Ed for Bloomberg. Dudley isn’t a stranger to abrasive Op-Eds, but in
Fed, Voters Get Another Disastrous Inflation Report
US consumer prices rose more than expected in April, closely-watched data out Wednesday showed. The headline and core gauges rose 8.3% and 6.2% YoY, respectively.
Explaining The US Economy’s ‘Since 1947’ Moment
In what I’d be inclined to call another blow to constructive takes on the outlook for the world’s largest economy, US productivity plunged by the
Load More
