Producer Prices, Industrial Production, Rail Traffic, Container Exports

This is not a reason to hike rates, but the Fed has other reasons beginning with their mistaken belief that the current policy is ‘highly accommodative’ and potentially inflationary, etc. etc. etc. when the opposite is the actual case: Up a bit more than expected, but all due to auto production, and yesterday’s wholesale trade […]

Retail Sales, Jobless Claims, Import Export Prices, Business Inventories, Japan Machine Orders, Freight Transportation, Gas Prices

This is being touted as a strong report, but, again, looks to me like it’s dropped since year end and at best is moving sideways from there, and not to forget that a large share of auto sales are imports. But I do agree the Fed is heck bent on raising rates in Sept, even […]

MTG Purchase Apps, EU Industrial Production, China Industrial Production, JOLTS

Yes, purchase apps are up 20% vs last year, but you can see from the chart the number of applications has leveled off and declined a bit more recently this year, and remains at depressed levels: The slump in industrial production is global: European Union : Industrial Production Highlights Industrial production declined more than expected […]

Redbook Retail Sales, Factory Orders, Econ Confidence

Speaks for itself: Nice to see an up month after a down one, but the year over year chart says it all: Factory Orders Highlights Factory orders rose nearly as expected in June, up 1.8 percent for only the second gain in the last 11 months. The durable goods component, initially released last week, is […]

PMC, Personal Income, ISM Manufacturing, Construction Spending, Car Sales

Another PMC, and an estimated $45 million check to Boston’s Dana Farber for cancer research! Congrats to all the donors and participants- over 6,000 riders and thousands of volunteers handling the logistics! Special nod to Billy and Meredith Starr for a most successful 35th PMC and total donations approaching $500 million!!! And thanks to all […]