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The CPI and Budget Deficit

The WSJ reports the budget deficit for fiscal year 2023 that ends on September 30 will be $1.7 trillion.  The estimate is from the Congressional Budget office’s monthly report for August and the deficit is even worse than

A Bifurcated Day

Markets were bifurcated as the Dow was unchanged and the NASDAQ led by be technology shares retreated about 1.0% amid concern over how a Chinese ban on AAPL’s iPhone could impact other segments of the

Oil Again Advanced

Oil rose about 2% yesterday following the announcement that Saudi Arabia will extend its unilateral oil production cut by another three months.  Its daily production will hold around 9 million barrels a day, the lowest level in

August’s Employment Report Released at 8:30

The Federal Reserve’s preferred measure of inflation posted the smallest back-to-back increase since late 2020 as the data largely met expectations.  The markets ignored the “super core” PCE report, the gauge that

A Quiet Day

Will today’s data confirm the increasing sense of optimism that the Federal Reserve is approaching the end of its interest rate hikes? Yields on the two-year Treasury, or the instrument most sensitive to monetary policy, declined to

A Data Inspired Rally

Bloomberg writes August’s market performance is the worst August since 2015.  The Newswire also reports the S & P 500 is hovering nominally lower than it was at this point in

FRB Powell Broke No New Ground

FRB Powell’s speech was widely a nonevent.  All markets sifted through comments from him and other Fed officials.  Powell stated officials “will proceed carefully” on whether to