July’s employment data is released at 8:30. To remind all May’s data flopped and June’s data flipped, the result of which caused a radical change in monetary policy assumptions. Will July’s data be the disaster that we experienced in June when only 11,000 jobs were...
Fitch reported yesterday losses in the sovereign debt market would globally approach $3.8 trillion if yields rose to 2011 levels. The 10-year reached a 3.74% yield on February 8, 2011 and then plummeted to a 1.71% yield by September....
Oil is trading around $40.50/barrel, down about 20% from late June on renewed concerns of a supply glut. Many of the large integrated oil producers missed earnings estimates because of a decrease in production....
The headline number for second quarter GDP was horrific. The economy only grew by 1.2%, half of the expected 2.5% increase. The primary causes, inventory destocking that subtracted about 1.16% from GDP—the greatest decrease since 3Q11—and a 3.2% drop in residential and business spending. This...
Will today’s release of second quarter GDP clarify the strength of the economy? In my view earnings have been mixed even as the overall data is suggesting greater strength than most had anticipated....
Treasuries rallied, the dollar pared gains and equities were mixed as the Federal Reserve kept interest rates unchanged and reiterated a slow pace of tightening even as the economy shows signs of improvement....
The Dow was again quiet yesterday after a three week 1,500 point advance from the post Brexit lows. As all know, the Dow fell about 1,000 points in three days only to regain all these points plus 500 more on the announcement of yet even...
Earnings season accelerates during the next three days as over 90 S & P 500 companies are scheduled to post results. For the period, profits are expected to fall about 5%, the fifth consecutive decline and the longest stretch since 2009....
Is the narrative about to change about the strength of the economy and inflationary pressures? June’s core CPI rose by 0.2% for the third consecutive month, a rise from increased shelter costs. The core CPI is now up 2.3% from June 2015, matching the largest...
June’s PPI rose by 0.5%, more than the forecasted 0.3% gain and the largest increase since May 2015. April prices rose by 0.4%. For the 12 months prices are up 0.3%, the biggest year to year gain since December 2014....