Services activity is robust in the US, the flash read on IHS Markit’s gauge for
Category: economy
Two Certainties: Taxes And Pipeline Inflation
Generally buoyant PMIs out of Europe helped brighten the mood at the margins on Friday,
Price Pressures And Broken Records
The May vintage of the Philadelphia Fed survey revealed a less-than-ideal, albeit entirely predictable, juxtaposition:
Jobless Claims Halve Under Biden
Jobless claims fell again last week, the government said Thursday. 444,000 Americans filed for unemployment
Housing ‘Zenith’
Housing starts came in at the low-end of the range for April, perhaps suggesting that
Labor Rising
The global recovery is “red-hot,” Morgan Stanley declared, in the course of reminding market participants
A ‘Healthy Level’
“A healthy level of inflation is a sign the economy is healthy,” Raphael Bostic said
The Dairy Aisle
On Friday, in response to a reader comment, I noted that the archetypal American Everyman
Mandatory Action Verbs
“Nobody actually has a very good handle on where near-term inflation prints will land, and
What Happens To Jerome Powell If Inflation Spirals?
“Macro vol is back,” Deutsche Bank’s Alan Ruskin declared, following this week’s shocking CPI report,
Inflation Expectations Skyrocket, Knee-Capping Sentiment
Consumer sentiment unexpectedly soured in May, the preliminary read on the University of Michigan’s gauge
US Retail Sales Suffer Stimulus Hangover
US retail sales were unchanged in April, data out Friday showed. Consensus expected a 1%
‘That Thud You Heard’
“That thud you heard last Friday was the jaw of every forecaster hitting the floor,”
More Inflation, Less Joblessness
Producer prices rose twice as much as expected in April, another round of inflation data
‘China’s Credit Impulse Just Turned Negative’
Lost in the whirlwind of inflation hysteria Wednesday was a notable downside surprise in China’s
First, Do No Harm
The Fed “would not hesitate to act” in the event inflation were to surge, Richard Clarida
Scorcher: Inflation Screams Higher, Testing Fed, Markets
Those expecting a red-hot April inflation print in the US weren’t disappointed. Consumer prices surged
Greed Is Good. Just Not If You’re A Worker
Greed is good. If you’re capital. If you’re labor, greed is synonymous with being lazy.
Tears For Capital
Expectations matter, we’re told. And they’re rising when it comes to prices. According to the
Everyday Joe
Five-year breakevens hit 15-year wides Monday, as rising commodity prices, jitters tied to the Colonial
An Offer They Can’t Refuse
“Today’s jobs report is just an example of [how] we have a long way to
A Staggering Miss: April Jobs Report Is Huge Letdown
The US economy added just 266,000 jobs last month, April’s hotly-anticipated nonfarm payrolls report showed.
The Stories We Tell
Everybody has a story. In general, but especially when it comes to explaining their own
US Jobless Claims Fall Below Half-Million In New Milestone
498,000 Americans filed for unemployment benefits last week (figure below). It was the first time
‘Inflationary Pressures By No Means Confined To Manufacturing’
Like its manufacturing counterpart, ISM services missed expectations for April. At 62.7, the headline was
US Private Employers Add Most Jobs Since September
Private employers added 742,000 jobs in April, ADP said Wednesday. That was below consensus. The
Street Level
If you had any doubts as to whether the demonstrable economic progress the US has
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