A slight improvement in current conditions for manufacturing in the region, but still negative. Feelings about New Orders improved and jumped into positive territory. Similar to the New York release, trending in the right direction. Disclaimer: This information is presented for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy [...]
Industrial production broadly appears to have 0% growth since March and to be treading water. But, the general direction is better than it looks from that view. Since the 4th quarter of 2022 was so bad, if we continue this trajectory, the annual growth will start to show up. What's not quite as inspiring is that the growth is mostly [...]
If you’re 65 years old and still working, you may be part of an elite group of American workers. Pew Research Center, in its latest jobs survey, found that employees aged 65 and older are the happiest employees in the workforce. The survey found: Two-thirds of those 65+ are extremely or very satisfied with their jobs, compared with: 55% of [...]
I said a couple of years ago that I thought that once all the distortions were past, we'd be back to where we started prior to COVID, but with more debt. The decade from 2010 to 2020 was the slowest decade of nominal GDP growth since WWII and the prospect of another decade of that wasn't all that appealing but [...]
Alhambra CEO Joe Calhoun discusses stock market valuation, whether the market is overvalued or undervalued, and how Alhambra Investments arrives at that conclusion.
The most anticipated release of the week came in ... "Unchanged" or sticky stuck from August at 3.7% yoy. But it's worth mentioning as we will discuss below that this is up from June CPI which was 3.09% yoy. Core CPI which excludes food and energy because of their volatility sits at 4.13% yoy down from 4.39% last month. Let's [...]
The employment report on Friday seemed like a good one. The unemployment rate was unchanged as the economy added 336,000 jobs in September. The gains were widespread with additions in manufacturing, construction, wholesale trade, retail trade, transportation, warehousing, leisure and hospitality, healthcare and education, and government. Average hourly earnings were up 0.2% for the month and 4.2% year-over-year. It was [...]
Joe explains why he thinks rates are about to peak. He also does some teaching about the correlation between interest rates, GDP, Nominal GDP, and more.
Ah, the college experience! There’s a lot of growing up that happens in those four years—finding out who you are, learning to be even more independent, and for some, learning to do their own laundry. But one thing is certain. No matter when you go to school or where, it’s going to be expensive. What drives the cost of [...]
Most strategic asset allocation strategies have produced negative returns over the last two years. A 60/40 allocation of Vanguard Total Stock and Vanguard Total Bond is down over 6%. John Bogle's 3-fund portfolio, a global approach that includes an allocation to Vanguard Total International is down nearly 9%. Morningstar has a diversified portfolio that includes 11 different ETFs and it's [...]
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