PCE in Line

January headline PCE registered a 0.3% increase MoM (0.4% Core) which was in line with most estimates. YoY, headline PCE rose 2.4% versus 2.6% in December, while core PCE rose 2.8%, down from 2.9% in December. In other economic data, personal income rose to 1.0% MoM from 0.3% in December and personal spending rose at … continue reading →

Charts I’m Watching: Aug 24, 2023

Futures have broken out on a new VIX “breakdown” and the runup in NVDA shares – now the 4th largest component of the S&P500.This seems off to us, as Powell is likely to come out more hawkish than expected in his Jackson Hole comments. continued for members… … continue reading →

BoJ: Just Kidding

It’s a big week for the market as many of the most important stocks are reporting amidst ongoing questions about the strength of the economy. This morning, however, it’s all about the BoJ again. After effectively raising interest rates, they’ve jumped into the market to make sure interest rates don’t actually rise – boosting the … continue reading →