11 of the last 13 months have seen negative downward revisions to Industrial Production...
“We are seeing customers trade into Walmart. We’ve historically been thought of for value, but now it’s value, quality and convenience.”
With US inflation and retail sales both cooling, bets that the Federal Reserve will cut interest rates are back, and there isn’t much left that could stop stocks from hitting new highs.
The downward revision for March meant it saw the largest MoM drop since COVID lockdowns...
How does anyone believe these numbers?
Institutional funds are more inclined to use CME than platforms like Coinbase due to existing relationships...
Immaculate acceleration is like trying to thread a needle while shaking from an adrenaline rush. In other words, it’s unlikely to go according to plan.
"Slowdowns are not bearish equities, recessions are. I think on the body of evidence we are still miles from that. Although another rise in claims /confirmatory data from Philly Fed like we saw in Empire would keep inching us toward GDP downgrades"
The stellar performance of S&P 500 superstars is not representative of the profits of corporate America. For the direction of the US jobs market, we should monitor the profits of the 6.4 million non-superstar US companies that account for 85% of US jobs. These profits have been softening.
"Have commodity prices past the trough?"
Sky News: he's "very pro-Russian"...
US equity futures modestly firmer, Dollar attempts to recoup recent losses & AUD lags post jobs data; US IJC due - Newsquawk US Market Open
NS
- European equities are mostly lower whilst US futures gain modestly
- Dollar is firmer paring back some of the CPI-induced losses, AUD lags after mixed employment data
- Bonds are steady, though with a very mild negative bias
- Crude benchmarks are flat, XAU is rangebound and base metals are mixed
- Looking ahead, US IJC, Philly Fed, BoE’s Greene, Fed’s Harker, Mester, Bostic & Barr.
NS
The Seychelles has the most powerful passport in Africa, followed by Mauritius and South Africa...
"West's Governments Need War" Warns Martin Armstrong "Because Their Debts Are No Longer Sustainable"
"It is unlikely that we can avoid world war... They will use the war as the excuse for defaults – as was the case for WWII."
Google's biggest battle could be to hold onto the users they've already got.
Lebanon currently home to 2 million displaced Syrians...
When a show starts preaching at people about respecting gender pronouns, they aren't going to stick around to see what happens next...
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