US retail sales were unchanged in April, data out Friday showed. Consensus expected a 1%
Category: economy
‘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
Price Pressures, Price Pressures, Price Pressures
In a somewhat unexpected turn for an economy hitting on all cylinders, ISM manufacturing posted
More Than A Sugar High
US equities came into May looking to build on last month’s gains, propelled by a
Folks Gotta Eat
Market participants will digest top-tier US data this week, with April payrolls headlining. Consensus expects
Stimmy! And Leon, The ‘Fully Invested Bear’
Did you get your “stimmy?” Some folks sure did. Personal incomes rose 21.1% in March,
Double Dip
A rather glaring transatlantic divide opened up in the first quarter, as the eurozone succumbed
Pay The Piper
Some of the inflation banter emanating from prominent market participants can properly be written off
Pyrrhic Victories
For the third consecutive week, jobless claims in the US dropped to a fresh pandemic
In Preview Of Summer Boom, US Economy Accelerates
The US economy expanded at a 6.4% pace in the first quarter (figure below), the
Adults In The Room
The Fed delivered a predictably bland, albeit relatively upbeat, statement following an April meeting that
Housing Is A Bubble. No Point In Denying It Now
Home prices are a lot like input price gauges these days — just as you
The American Consumer Is Absolutely Excited
Consumer confidence breezed past estimates in April, the Conference Board said Tuesday. The headline gauge
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