DATA PREVIEW: ODD THANKSGIVING CAPS OFF A BUSY WEEK
By Kevin Kastner WASHINGTON (MaceNews) – As a result of surging COVID cases, the upcoming Thanksgiving holiday will be the strangest on record, with a Zoom screen at the other end of the table rather than relatives. It could prevent the spread of COVID, but it may also prevent the usual Thanksgiving sporting event in […]
DATA FLASH: U.S. OCTOBER EXISTING HOME SALES ADVANCE FURTHER
–Existing Home Sales Rise by 4.3% to a 6.85 Million Rate, High Since Feb 2006 By Kevin Kastner WASHINGTON (MaceNews) – U.S. existing home sales surged again in October are now at the highest point since February 2006. National Association of Realtors Chief Economist Lawrence Yun said the data are “amazing” and noted that 2020 […]
DATA PREVIEW: RETAIL SALES PAYBACK DUE AFTER BRISK SEPTEMBER
By Kevin Kastner WASHINGTON (MaceNews) – A surprise jump in September retail sales, led by a surge in motor vehicle sales, was a blip in what appears to be a continued slowing trend in sales growth. October retail sales should rise only modestly when released next Tuesday following an outsized 1.9% jump in September. While […]
STATUS CHECK – FROM THE SEAT OF POWER, POWERLESSNESS AS VOTES TOTALED
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. The networks plodded on Wednesday night, with nothing much new to report, as talking heads artfully kept the ball rolling, even if it was in circles, waiting. President Trump was watching, likely clicking […]
DATA FLASH: US SEPTEMBER PERSONAL INCOME REBOUNDS, PCE JUMPS
–US Sept Personal Income +0.9% After -2.5% in August, Savings Rate 14.3%–Nominal PCE +1.4%, Real PCE +1.2%; Core Prices +0.2%–Chicago PMI Slips to Still-Strong 61.1 in October from 64.2 in September–Oct Michigan Sentiment Index Revised Up to 81.1, Vs 80.4 in September By Kevin Kastner WASHINGTON (MaceNews) – Personal income rebounded in September, reflecting a […]
STATUS CHECK COMMENTARY – STOWING THE AMMO BEFORE ELECTION DAY
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. · Does anyone still care that House Speaker Nancy Pelosi and Treasury Secretary Stephen Mnuchin exchanged letters, each listing the deficiencies in the other’s position on pandemic relief. Suffice to say they’re far […]
FOMC APT TO STAND PAT FOR NOW, BUT FUTURE FISSURES EMERGING
By Steven K. Beckner (MaceNews) – The Federal Reserve is about to hold its second Federal Open Market Committee meeting under its new monetary policy framework amid strange and rapidly changing circumstances. No policy change is likely on Nov. 5. In other words, the FOMC will almost certainly leave the federal funds rate in the […]
DATA PREVIEW: GDP WILL REBOUND FOR Q3, BUT NOT NEARLY ENOUGH
By Kevin Kastner WASHINGTON (MaceNews) – After the 31.4% plunge in second quarter GDP, there is no doubt that economic growth partially rebounded in the third quarter, data to be released Thursday will show. Consumption, home building and business activity all improved drastically from the lockdown-period of the previous quarter. But it will be a […]
DATA FLASH: US SEPTEMBER CPI ROSE BY 0.2%; GAINS SLOWING
–Core Prices Also Up 0.2%; Ex. Only Energy, CPI Still Up 0.2%–Energy Prices Rose By 0.8%, Food Prices Flat By Kevin Kastner WASHINGTON (MaceNews) – The September consumer price data were right on expectations, with 0.2% gain for both headline and core CPI. The year/year rates for inflation remain significantly below their pre-COVID levels and […]
STATUS CHECK – OF PRESIDENTIAL HEALTH CHECKS AND REGENERON RATIONING
WASHINGTON (MaceNews) – The following is Friday’s status check of developments in the U.S. that can influence economic, health and political outcomes. · President Trump went on Fox late Friday and for what was billed as on on-air health assessment – spoiler alert – he passed. The in-house doctor asked him some questions from the […]