Category: Covid-19

DATA PREVIEW: FEWER DATA POINTS IN THE MAY 18 WEEK, BUT NOT LESS NEGATIVITY

By Kevin Kastner WASHINGTON (MaceNews) – After an overflow of data Friday, there is a breather coming in the May 18 week, but that doesn’t mean there won’t be anything for markets and analysts to focus on. Housing data takes up much of the schedule, starting with the National Association of Home Builders’ Housing Market […]

DATA FLASH: US APRIL RETAIL SALES DOWN 16.4% AS CRISIS CONTINUED

–Non-store Retail Sales Rose 8.4%, Other Categories Down–Empire State Index Rose to -48.5 in May from -78.2 in April–Industrial Production -11.2%, Manufacturing -13.7% on Vehicles By Kevin Kastner WASHINGTON (MaceNews) – Social distancing continued in April, cutting further in almost every retail sale category, data released Friday morning showed. At the same time, industrial production […]

WHITE HOUSE WATCH COMMENTARY: THE TRUTH ABOUT DR BRIGHT AND THE PRESIDENT

By Denny Gulino WASHINGTON (MaceNews) – When Jack Nicholson ad-libbed, “You can’t handle the truth” in that 1992 movie it became one of those phrases that assumed a life of its own, used long after in contexts far removed from the original plot. The Nicholson character’s truth proved to be irrelevant, part of a strident […]

BOE’S BAILEY REFUSES TO RULE OUT NEGATIVE UK INTEREST RATES IN MEDIUM TERM

By Laurie Laird LONDON (MaceNews) – Bank of England Governor Andrew Bailey surprised investors on Thursday, refusing to rule out negative interest rates in the U.K., even as he repeated his hopes of a robust economic recovery before year end. Answering a question about sub-zero rates posed by a Financial Times journalist at a web […]

DATA FLASH: US INITIAL CLAIMS DIP; 36.5 MLN SINCE MID-MARCH

–Initial Claims Fall 195,000 to 2.981 Mln; Signs Backlogs Winding Down–Import Prices Fall 2.6% in April; Still Down 0.5% Excluding Fuels By Kevin Kastner WASHINGTON (MaceNews) – The rate of initial claims growth slowed further in the May 9 week as backlogs are worked down, but there is no indication that the number of people […]

WHITE HOUSE WATCH COMMENTARY: FIGHTERS, HATERS AND UNSUNG HEROES

By Denny Gulino WASHINGTON (MaceNews) – There is a basic problem in news coverage of the pandemic, the fact that the virus culture wars are much more interesting than the fight against the virus itself. When President Trump calls an answer from NIH’s Tony Fauci “unacceptable” as he did Wednesday, the president’s fans are cheering […]

FED’S POWELL WARNS OF DANGERS OF LONG SHALLOW RECOVERY

–Emergency Aid So Far May Be Only the Beginning –‘Recovery May Take Some Time to Gather Momentum’ — ‘Additional Fiscal Support Could Be Costly’ –Negative Rates ‘Not Something That We’re  Looking At.” By Denny Gulino WASHINGTON (MaceNews) – The battle of recovery narratives – swift and sharp versus shallow and long – Wednesday saw one […]

DATA FLASH: US APRIL PPI FALLS 1.3% ON ENERGY; Y/Y RATE TURNS NEGATIVE

-Prices Ex. Food/Energy -0.3%; Down 0.9% Ex-Trade Services as Well-Energy Prices Drop 19.0% on a 56.6% Plunge in Gasoline Prices By Kevin Kastner WASHINGTON (MaceNews) – Wholesale prices declined more than expected in April, led by energy prices again, the Labor Department reported Wednesday. The inflation data are all moving in the same downward direction, […]

WHITE HOUSE WATCH COMMENTARY: ONE WORD SAID IT ALL – ‘INEVITABLE’

By Denny Gulino WASHINGTON (MaceNews) – The testimonies of Fauci, Redfield, Hahn and Giroir Tuesday seemed to many, perhaps even a lot of investors and traders, like something new when in fact there was not only nothing new, but what was there was way too late. The testimonies, if anything, just demonstrated again it’s not […]