US services sector activity cooled off in November if you can believe it. The engine
Category: economy
US Private Hiring Steady, Pay Growth Firms
US private sector employers added 146,000 jobs on net last month, ADP said Wednesday, as
Quits Jump In Messy US Job Openings Release
US job openings rose more than expected and quits increased in the second of several
Be Careful Gao!
Be careful Gao, they’ll kill you! I’m just kidding. Only not. If you’re a Chinese
US Factory Recession Eases
Could’ve been worse. That, in a nutshell, was the takeaway from Monday’s update on the
Jobs Week Ahoy
US traders will return to their terminals after what, for most, was a four-day weekend,
Europe Grapples With Stagflation-Lite. Trump To Eye Weak Currency
Headline inflation’s back above target in Europe, but don’t worry, the ECB will probably cut
On The Housing Rollercoaster
Rejoice, renters! Financing costs for what one reader aptly described as hopelessly nondescript “people self-storage
US Core Inflation Warmest In Months As Tariffs Loom
Nominal spending was sturdy, inflation-adjusted spending less so, and core inflation was warm last month,
Trump’s Inheritance
The second estimate of Q3 US GDP, released on Wednesday, painted a similar picture to
Wishful Thinking
Way back last month, consumer confidence in the US soared the most since “stimmy” was
New Home Sales Plunge, Prices Rise In Still-Distorted US Housing
Sales of newly constructed US homes fell sharply in October, when the South was recovering
Give Thanks 2024
It’s Thanksgiving week in the US, and longtime readers know just how I feel about
Rusty Nails
Another month, another robust read on US services sector activity. The flash print on S&P
Americans Dig Deep, Buy Homes
Americans bought some houses last month, God bless ’em. Existing US home sales, which’ve spent
Fanciful Claims
US jobless claims came in low. Again. Again, again. Thursday’s initial filers print was just
Knock-Knock-Knockin’ On Seven’s Door
It wasn’t all that long ago that five-handle mortgage rates seemed like a real possibility
Red-Lining
America has a builder president again. So, naturally, builder sentiment improved in November. If you’ve
How AI Destroys Humanity: An Interview With ChatGPT
As regular readers are aware, I began experimenting with OpenAI’s image generation platform DALL-E in
Chinese Consumers Show Signs Of Life, But It Ain’t ‘Common Prosperity’
I’m pretty unforgiving by now when it comes to face-value assessments of monthly macro releases
(Shopping) Bag Holders
The last macro update of the week from the world’s largest economy beat on the
There’s A Storm Coming, Jay
Jerome Powell stood up in front of some people and read from a script on
No ‘Guts,’ No Glory
Data. Who needs it? Not America’s data-dependent monetary authority, that’s for sure. Just ask this
Save Us, Don!
“Voters aren’t stupid.” So said SocGen’s Albert Edwards on Thursday. I can’t speak for voters
Charge It To The Game
If you were curious, Americans had nearly $1.2 trillion in credit card debt as of
Core Inflation Stuck As Fed Leaves Job Unfinished
Underlying inflation in the US ran warm again in October, this week’s marquee macro release
Fed Consumer Poll Paints Upbeat Picture
The New York Fed released its consumer expectations report on Tuesday. Who’s excited?! These releases
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