Macro: Major reports holiday week
Case Shiller Home Price Index The annual price change for houses from Oct 2022 to Oct 2023 is 4.8%. Though the monthly price increases are slowing, the annual inflation rate will continue to rise because [...]
Macro: Construction Spending
Residential construction continues to strengthen as non-residential construction may have peaked. The non-residential spending is a result of the public sector which contracted in November after a huge run for the last 18 months. Disclaimer: [...]
Macro: S&P Global US Manufacturing PMI — 47.9
Orders and output falling and now labor... “The slowdown is spreading to the labor market. Payrolls were cut for a third month running as increasing numbers of firms grew concerned about the development of excess [...]
Macro: Durable Goods
The headline number will be choppy for a few months because of dynamics from the end of 2022 and beginning of 2023. Core capital goods will be the series providing the most information for the [...]
Macro: Consumer Sentiment
What's more pertinent? The index jumped 14% this month. The index has been in an uptrend for the last 18 months. The index is still weak relative to the last decade. Disclaimer: This information is [...]
Macro: GDP Q3 — Inflationary BOOM!
Outside of the pandemic defined as 2020 and 2021, this past quarter was the 5th best quarter for nominal GDP in the last 25 years. It was the best real growth quarter since Q2 and [...]
Macro: Philly Fed Mfg Survey — Umm
Tis was a poor number. The headline dropped from -5.9 to -10.5. The more eye popping number was the Index for New Orders which dropped from 1.3 to -25.6. I hate to say it, the [...]
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