Economics
Macro Briefing: 31 July 2023
* S&P 500 profits get a boost from weaker US dollar * Stock market rally showing signs of broadening as… * Equal-weighted S&P 500 ETF (RSP) leads…
* S&P 500 profits get a boost from weaker US dollar
* Stock market rally showing signs of broadening as…
* Equal-weighted S&P 500 ETF (RSP) leads cap-weighted ETF (SPY) over past month
* US economy remains “resilient”, says Minneapolis Fed President Neel Kashkari
* 3 reasons why America may avoid a recession
* China’s factory activity for July contracts for the fourth straight month
* Eurozone growth picks up in Q2 and inflation eases
* Crude oil headed for biggest monthly price gain in more than a year
* Yellow, a major US trucking firm with 30,000 employees, is shutting down
* US consumer spending rose as inflation eased in June–‘sweet spot’ for economy:
US wage growth continued to cool in the second quarter, providing deeper confidence that the recent and ongoing easing of inflation will continue. The Wall Street Journal reports: “Employers spent 4.5% more on wages and benefits in April to June from a year earlier, the Labor Department said Friday. That marked a slowing from a 4.8% increase the prior quarter. The employment-cost index, a measure of compensation growth closely watched by Fed officials, also posted its smallest quarterly increase in two years.”
Deepening deflation/disinflation in China will weigh on global demand for commodities, including food, energy and raw materials. “The market is underestimating the deflationary impact on the global economy,” says Frederic Neumann, chief Asia economist at HSBC in Hong Kong.
dollar
inflation
deflation
commodities
fed
us dollar
deflationary
Argentina Is One of the Most Regulated Countries in the World
In the coming days and weeks, we can expect further, far‐reaching reform proposals that will go through the Argentine congress.
Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar
Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar
A weird week of macro data – strong jobless claims but…
Fed Pivot: A Blend of Confidence and Folly
Fed Pivot: Charting a New Course in Economic Strategy Dec 22, 2023 Introduction In the dynamic world of economics, the Federal Reserve, the central bank…