It’s Friday the 13th…


Make Bad Data Great Again! CPI Edition


CPI Misses, Dollar, Yields Fall

CPI rose 0.5% vs est. 0.6%
Ex. food, energy up 0.1% vs est. 0.2%

Close Your Eyes And Buy.

Don’t worry about the orange man.

Today’s ‘Amazon Effect’ Is Not As Large As Yesteryear’s ‘Walmart Effect’ – Yet

So that’s “not nothing” (so to speak), but guess what? It’s not on par with the Walmart effect…

What, No Nukes?

There’s always tomorrow.

La, La, La.

Finally, in case you haven’t had enough of “connecting the dots” today, here’s another exercise for you…

CPI Beats, Dollar, Yields Jump

CPI rose 0.4% vs est. 0.3%
Forecast range from up 0.2% to up 0.4% from 76 estimates
Ex. food, energy up 0.2% vs est. 0.2%
CPI y/y rose 1.9% vs est. 1.8%

The Most Important Paper Of The Next Decade

“Higher real rates, inflation and wage growth to pick up, and inequality going down. This is the opposite conclusion that almost all economists are subscribing to.”

No ‘Apocalypse Now’, But Maybe Later – Full Week Ahead Preview

This week’s market-moving events are likely to be unscheduled. Remember, Irma is still a catastrophic natural disaster even if it didn’t quite turn into a scene out of a bad Jake Gyllenhaal movie. And as the above mentioned Ben Purvis notes, “Kim Jong Un [could decide] to inject himself into the conversation again,” at any time.

(Still) Hakuna Matata?

Perhaps the most amusing thing about it all is that it’s become so ubiquitous and reliable that it can now be summarized succinctly in the form of a bullet point (and apparently “bulletproof”) investment thesis…

Deflation Is Here And The Ice Age Cometh: Albert Edwards Is Back

“I was too optimistic!”

Mohamed El-Erian On ‘Demons’, Collateral Damage And Unintended Consequences

“…there is no guarantee that a change in policy approach would do anything more than threaten even greater collateral damage and unintended consequences.”

CPI Misses Across The Board, Dollar Dives

CPI rose 0.1% vs est. 0.2%, according to the BLS.

Ex. food, energy up 0.1% vs est. 0.2%

Incomes Flatline, Spending Barely Grows, PCE Manages Not To Be Catastrophe

Well, this could have been better.