Friday the 13th: The Final Chapter

The past few days have seen an escalation in the battle between market forces and Trump’s tweet-driven algos.  Trump and his minions are desperate to see stocks make new all-time highs and have issued a steady stream of breathless trade and tax-related pronouncements possessing little substance but great influence on the algos. The algos have, … continue reading →

PPI Beats Expectations

Continuing the string of data arguing against a rate cut, PPI and Core PPI both came in hotter than expected.  Core increased 2.3% from August 2018.Futures, which are in levitation mode after a sharp intraday recovery yesterday, barely noticed.  Virtually nothing has changed from yesterday’s forecast.  Though, we have an important EIA report coming out … continue reading →