Since announcing an emergency bond market intervention last week to prevent the UK pension complex from collapsing, the Bank of England hasn’t had to buy
Category: economy
Resilient, Stubborn Or Stagflationary?
US services sector activity was healthy in September, according to top-tier data released on Wednesday. At this point, “resilient” is synonymous with “stubborn,” or at
US Private Sector Added Some Jobs Last Month
US private sector employers added 208,000 jobs in September, ADP said Wednesday. It felt, for lack of a better way to describe the numbers, like
The New ‘Now’ Zeitgeist
Policy pivot euphoria waned Wednesday, as investors and traders weighed persistent inflation and tough-talking central banks against decelerating growth. One generic market recap said “a
‘Soft Landing’ Narrative Gets Its Lazarus Moment
Suddenly, the data is playing along. US job openings notched one of their largest monthly declines on record in August, hotly anticipated figures out Tuesday
Bad News Is Good News In US Factory Slowdown
The first of this week’s top-tier US data came in short of consensus, which was either bad news or good news, depending on your lens.
Breaking News: More Terrible US Inflation Data
The good news is that the bad news was already in the price. Hopefully. Key US inflation data out Friday came in hotter than anticipated,
Europe’s Inflation Crisis Spirals Into Double-Digits
In news that’s every bit as disconcerting as it is unsurprising, inflation in the eurozone reached double-digits in September. Consumer prices probably rose 10% this
Albert Edwards Has A Different View Of UK’s Historic Week
The ongoing crisis in the UK may not be all Liz Truss’s fault. I’m certainly inclined to suggest that a little foresight on her part
The Most Important Takeaways From A Bad News Week
The bad news is… everything, really. It’s not so much that there’s a “bull market” in doom and gloom. Well, there is. But that’s always
US New Home Sales Stage Black Swan-Style Surge
Markets were treated to another black swan-type event Tuesday, courtesy of a wholly anomalous beat on US new home sales (of all things). The 685,000
Pace Of US Home Price Gains Downshifts Most Ever
Home prices posted a smaller-than-expected annual gain in July, according to one closely watched gauge, and logged a surprise monthly decline on another, underscoring the
Summers On UK: ‘I’m Surprised We Haven’t Heard From The IMF’
Don’t give Larry Summers an easy target. In the immediate (and extremely chaotic) aftermath of Liz Truss’s mini-budget unveil last week, Summers told Bloomberg that
Runaway Inflation In Europe: Does The ECB Even Matter?
In addition to a cacophony of policymaker soundbites, traders will be compelled to grapple with what could be a double-digit inflation print out of Europe
Truss Plan Pushes UK To Edge Of Crisis
“Casino economics” that will “end in tears” with a possible run on the pound. That’s a spliced together assessment of Liz Truss’s hotly anticipated economic
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