Monthly Archives: July 2023

Wow, stunning that financial conditions, as measured by the Chicago Fed’s National Financial Conditions Index, (see last table), are as loose as they were back in April 2022, when the Fed Funds upper limit was at 50 bps versus 5.25 … Continue reading →

The U.S. budget data are just out, and there’s something happening here. What it is ain’t exactly clear.  For what it’s worth, we provide you with our insights. The rolling twelve-month cumulative budget deficit – June to June – has … Continue reading →

After a read of the recently released manufacturing and services Purchasing Managers Index (PMI) reports for June, goods prices are softening significantly. However, the service sector is still experiencing price pressures, albeit at a deaccelerating rate. Services comprise over 60 … Continue reading →

QOTD = Quote of the Day During SecTreas Janet Yellen’s visit to China, the government announced starting next month, China will impose restrictions on the global availability of gallium and germanium, obliging purchasers of these rare metals to obtain permits. … Continue reading →

Based on the recent release of the June Global Sector PMI from S&P Global, the state of manufacturing in various global sectors during June 2023 shows a divergence in performance between manufacturing and services. Manufacturing-based sectors experienced a drop in … Continue reading →

Yields spiking. 

Interesting chart from the WashPost, comparing current polling with old polling.   The data,  …revisited 1948 polling from Fortune magazine in which people were asked whether they would use certain words to describe most of their fellow Americans. The results were striking, showing … Continue reading →