If Your Income Drops, How Do You Keep Consuming?
Personal incomes fell much more than expected in October, the BEA said Wednesday. The 0.7% drop compared to expectations forContinue Reading
Category: economy
Surprise! Jobless Claims Jump As Pandemic Rages Unabated
778,000 Americans filed for unemployment benefits last week, a five-week high and far more than consensus expected. This marks theContinue Reading
Manufacturing A Durable Recovery
Although Wednesday brought unwelcome news on the labor market, durable goods orders were resilient. The 1.3% gain for October wasContinue Reading
Fairy Godmother
“Yellen will be in close contact with the Powell Fed to ensure that nearly all of the funding — orContinue Reading
Bad Mood
Consumer confidence dipped in November, The Conference Board said Tuesday, citing “the resurgence of COVID-19” among other factors for Americans’Continue Reading
Welcome Back
The holiday-shortened week began in predictable fashion, with equities climbing the proverbial “wall of worry” as daunting virus headlines andContinue Reading
‘Quite Literally At A Price’: Inflation Comes Roaring To Life In US PMIs
While you can expect high frequency indicators to start reflecting the various lockdown protocols instituted across the US, PMIs aren’tContinue Reading
Europe Heads For Double-Dip Downturn As Western World Succumbs
Surprise! The European economy looks poised to log another contraction, fresh off Q3’s rebound from the pandemic plunge. The flashContinue Reading
Who’s Looking Forward To ‘Normal’?
More encouraging vaccine headlines looked to bolster risk sentiment in the new week as the University of Oxford and AstraZeneca saidContinue Reading
Why Portfolio Managers And Executives Think Goldman’s 2021 S&P Forecast Is Too High
When Goldman asked domestic and international portfolio managers, hedge funds, sovereign wealth funds, and corporate executives what they thought ofContinue Reading
‘It’s A Joke’
Never a dull moment. Markets were subjected to more unnecessary drama on Friday, as investors, analysts, and traders tried toContinue Reading
Uber-Goldilocks
I guess we need to add a new term to the lexicon: “Uber Goldilocks.” You remember “Goldilocks,” right? “She” wasContinue Reading
Amid ‘Odd’ Treasury-Fed Spat, Correction Window Opens Ahead Of Assumed Year-End Melt-Up
Prepare for a possible “unclenching.” That’s one message from Nomura’s Charlie McElligott, who, in a Friday note, reiterated that withContinue Reading
Authorizations During Emergencies
Pfizer and BioNTech will submit an emergency use authorization request for their jointly-developed COVID-19 vaccine on Friday, the companies announced,Continue Reading
Non Sequiturs & Nonsense
I suppose I was wrong to say, on Thursday morning, that “analysts and economists are loath to suggest a double-dipContinue Reading