China’s July Data Deluge Disappoints As Retail Sales Fall Again
The Chinese economy continues to exhibit signs of stabilization, but activity data for July released on Friday was underwhelming. ChinaContinue Reading
Category: economy
Stalemates And Stagflation
“I don’t know”, Nancy Pelosi said Thursday, asked when she might sit down again with Steve Mnuchin to resume talksContinue Reading
Where’s The Rent Deflation?, Albert Edwards Asks The Bureau Of Labor Statistics
One of the many explanations rolled out when explaining the monumental ~54% surge in US stocks from the March panicContinue Reading
Mike Pence Made A Wild Claim About The US Jobs Market. It’s Propaganda.
“It’s unbelievable the twilight zone that we’re sort of living in, where people just say things and it gets repeated”,Continue Reading
US Jobless Claims Drop Below 1 Million In Pandemic Milestone
Last week, the US labor market got a double-dose of good news. The headline print on the July jobs reportContinue Reading
According To One Key Measure, The Pandemic Never Happened (But Don’t Tell Stein Mart)
There’s been no shortage of attention paid this week to the S&P 500’s apparently imminent date with new all-time highs.Continue Reading
If You’re Not Safe In New Zealand (A Pair Of Reminders)
Amid a back-up in yields stateside and ongoing upside “surprises” in key data points both in the US and abroad,Continue Reading
Core CPI Surges Most Since 1991. So, There’s That
It probably wouldn’t be correct to say July’s US inflation data is “pivotal”. Rather, a better way to characterize thingsContinue Reading
Great Expectations
Markets (or, at least the financial media) seem enamored with the idea that Donald Trump might index capital gains toContinue Reading
Nomura’s McElligott: The M2 Pro-Cyclical Signal May Be ‘Triggering’ In Stocks
Last week, Nomura’s Charlie McElligott suggested that those looking for a real “reflation signal” should watch for signs that theContinue Reading
El-Erian Says ‘Band-Aid’ Actions May ‘Further Undermine’ US Prestige. Goldman Sees Early September ‘Deadlines’
It’s “not nothin’”, so to speak, but it’s not a long-term solution. That was the consensus on Monday, as marketContinue Reading
July’s ‘Great’ US Jobs Report Hid Grim Milestone
Donald Trump’s go-it-alone approach to virus relief met with mixed reviews on Sunday and Monday. Most of those involved seemContinue Reading
Trump Virus Relief Edicts Seen As Inadequate. Unemployment Scheme Especially Tenuous
“Whether they’re legal or not takes time to figure out”, Nancy Pelosi said Sunday, speaking to CNN following Donald Trump’sContinue Reading
Trump Pulls The Trigger, Signs Orders On Jobless Benefits, Payroll Taxes
Donald Trump moved ahead Saturday with executive action aimed at preserving a handful of key fiscal support mechanisms after negotiationsContinue Reading
July Jobs Report Raises Questions, But Answers Aren’t Forthcoming
The July jobs report (which beat expectations, ostensibly suggesting reinstated virus containment measures across some large US states weren’t asContinue Reading