US Data Preview: Jobs Report, Beige Bk, ISMs and the Inflation-Deflation Conundrum
WASHINGTON (MaceNews) – Who cares if AMC is up more than 40% one hour and then down 2% another hour, that the U.S. Senate wears itself out going nowhere, that the Biden administration’s budget wish list sees growth back down to 2.2% then lower after next year. Not to worry, we’re at the beach – […]
US Bureau of Economic Analysis 1Q Revision Technical Notes
WASHINGTON (MaceNews) – The following is the text of the Bureau of Economic Analysis technical notes that explain changes made in the first revision of the US first-quarter GDP report published Thursday as well as the first publication of the change in corporate profits: Gross Domestic Product, First Quarter 2021 (Second Estimate) Corporate Profits, First […]
Fed’s Quarles: Inflation Rise ‘Sufficient’ To Start Thinking About Tapering ‘Soon’
– But Says Fed Can Afford To Be ‘Patient’ About Firming Monetary Policy By Steven K. Beckner (MaceNews) – The Federal Reserve is getting closer to a time when it will need to consider scaling back its asset purchases, now that it has gotten “sufficient” evidence of rising inflation, Fed Vice Chairman for Supervision Randal Quarles said Wednesday. Quarles also suggested the […]
US Data Preview: New Home Sales, Revised GDP/Personal Income, Durables Orders … and FOMO
WASHINGTON (MaceNews) – In the cryptos – fear, uncertainty and doubt. For U.S. stocks, hit “resume” already and stay there. For that U.S. 10-year yield, is it still under 1.65%? The fifth month of this recovery year is almost over and still things feel tentative. The reopenings are becoming universal and the return-to-the-office notices are […]
BofA Global Research Fund Manager Survey: Investors Pare Equity Positions, Increase Cash Holdings in May
By Vicki Schmelzer NEW YORK (MaceNews) – Global investors pared equity positions and increased cash holdings in May, driven by a rethink of growth and inflation expectations, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. A net 84% of those polled in May looked for stronger world economic growth […]
US Data Preview: Housing Starts, FOMC Minutes, Existing Home Sales
WASHINGTON (MaceNews) – A relatively quiet week on the economic data front in the coming week, with the FOMC minutes replay machine giving us the origin story of all the FedSpeak we’ve been hearing again, and again, and … The end-of-week victory for “transitory” was the most notable development looking backwards. The prophets of accelerating […]
ANALYSIS: For Most Part FOMC Voters Still Hewing To Loose Monetary Policy Line
But ‘Straws In the Wind’ Bear Watching By Steven K. Beckner (MaceNews) – Since the Federal Reserve’s policymaking Federal Open Market Committee left its lax monetary stance in place on April 28, there has been a flurry of comments by Fed officials, but their main thrust has been to reinforce the likeklihood that the FOMC […]
US Data Preview: Jobs Rpt, ISMs, Lots of FedSpeak
WASHINGTON (MaceNews) – The week ahead’s economic data is highlighted by Friday’s jobs report, telling us what we already know about March, that employment improved as rebound hiring kept climbing the long road back to full employment. Monday’s appearance of Federal Reserve Chair Jay Powell is on the usually market insensitive subject of community development, […]
US 1Q GDP Technical Note – Breakdown of Key Elements
WASHINGTON (MaceNews) – The following is the text of the U.S. Bureau of Economic Analysis technical note on the elements of the first quarter advance GDP report published Thursday: Gross Domestic Product, First Quarter 2021 (Advance Estimate)April 29, 2021 This technical note provides background information about the source data and estimating methods used to produce […]
US Data Preview: FOMC/Powell News Conf; GDP, Personal Inc, Durables
WASHINGTON (MaceNews) – The week ahead promises no surprises, in the first-quarter GDP report, the FOMC meeting, durable goods report, the price of oil, the president’s address to Congress, the gradually improving trend of virus cases unless … . Unless you count the preternaturally moderate benchmark U.S. 10-year yield. At this writing 1.567%. Who at […]