A few of the recent charts of interest

[Skip to the end] No sign of recession here. Several May surveys are showing signs of turning around some. This was all ‘better than expected’ with prices blipping up and actual inventories continuing lower. Still down but could be bottoming as well. Still moving higher. May price data has the Fed’s undivided attention. Confidence falls […]

2008-04-25 Valance Chart Review

Twin themes remain: Weakening demand continues from Q2 2006 Price indexes continue higher as Saudis continue to hike prices and let quantity adjust Markets are pricing in the end of Fed Funds cuts due to diminished systemic deflationary risk and escalating inflation readings. Down, but not out. Most surveys are still trending down but not […]

2008-03-21: Valance Chart Review

Twin themes continue: weakness and higher prices. A substantial pickup in net government spending beginning late Q2 and continued strong exports should keep GDP in positive territory. Saudis/Russians continue as swing producers and should continue to hike prices. Pension funds are also continuing to increase allocations to passive commodities and non-US equities. All the above […]