Italy Archive

Weekly jobless claims, Virus charts

Big spike up: New daily global confirmed cases growing: US cases growing rapidly and soon to surpass Italy and China to take the lead globally: ...Read More

UK, Germany, Italy, India, Japan

Just a partial recap of today’s releases as the tariff induced global trade collapse continues: ...Read More

Euro zone, China, Amazon, US employment

Lots of headlines pointing to corporate weakness: Amazon sales outlook falls short after record holiday quarter (Reuters) Fast and free shipping helped the world’s largest online retailer boost revenue by 20 percent. Net income jumped 63 percent to $3 billion for the fourth quarter. Its international operating loss shrunk to $642 million ...Read More

Healthcare, Regulation comments, Policy statement

Looks like no repeal and replace pending: I think Paul Ryan is trying to pull a fast one on repealing Obamacare On the surface, it looked like a GOP news conference touting a possible compromise with conservatives to help get the health-care reform bill passed. But House Speaker Paul Ryan and his ...Read More

Wire article, Trump news, Italy

What Does Modern Money Theory Tell us About Demonetisation? Dec 5 (The Wire) — Warren Mosler, a founder of MMT, explains the idea of “taxes drive money” using a simple example. He pulls out his visiting card in a classroom and … Continuous flow of this stuff: Donald Trump insults China with ...Read More

Producer prices, Retail sales, Business inventories, Consumer sentiment, Saudi output, German, Euro area GDP

Nothing here to get the Fed concerned about inflation: Not good, less then expected and excluding autos, a ‘core reading’ even worse. Seems to me that perhaps the higher gas prices that caused the increases over the last couple of month’s have taken their toll on other spending. And at the macro ...Read More

Italy trade surplus

The euro area trade surplus in general seems to be continuing, even as global trade weakens. Fundamentally this removes net euro financial assets from global markets that were sold by portfolio managers. Those managers include central bankers proactively selling their euro reserves over the last two years or so to buy US ...Read More

GDP, Saudi oil production, KC Fed, Chicago PMI, Shale Italy and Japan comments

As expected, the deceleration continues, and over the next couple of years it wouldn’t surprise me if the entire year gets revised down substantially: GDP Highlights Consumer spending is the central driver of the economy but is slowing, at least it was during the fourth quarter when GDP rose only at a ...Read More

CPI, Redbook Retail Sales, Industrial Production, Housing Index, Containers, FHA Capital, EU Car Registrations, Japan

Part of the Fed’s mandate is to hit it’s 2% inflation target: Still at recession type levels: This is also what recession looks like: The anointed ‘driver of the economy’ continues to falter as previously discussed: Housing Market Index Highlights The housing market index from the nation’s home builders shows weakness, at ...Read More

Japan Downgrade, China GDP Model, Earnings Reports, Italian Trade, Housing Starts, Rail Traffic, Fed Comment

Yields on JGB’s fall a bit with S&P downgrade. I’ve spoken to S&P. They know better. They are intellectually dishonest. I included these as they give some indication of the macro outlook: FedEx Trims Outlook on Weak Freight Demand Sept 16 (WSJ) — FedEx said it expects adjusted earnings of $10.40 to ...Read More