August CPI came in hot, rising 0.1% in August instead of the consensus 0.1% decline. Core was even worse: 0.6% versus 0.3% consensus. The annual print also disappointed, coming in at 8.3% versus expectations of 8.0% or less.Having slightly overshot our 4153 target overnight, ES is now reversing sharply.continued for members… … continue reading →
Tag Archives: crash
An extremely disappointing payrolls report put February new hires at 20K. I had to look twice, certain that a digit had been left out.To make matters worse, hourly earnings spiked 3.4% YoY, far in excess of what all the Goldilocks models suggested. It should be entertaining to see how Kudlow et al. spin this one. … continue reading →
In our last update on the Dow, we noted that it had not only fallen through an important trend line but its SMA200 as well. From All Good Things on Oct 11: DJIA is flirting with breaking below a long-term trend line and SMA200. A failure here opens the door to 23781, another 6.2% lower. … continue reading →
Short and sweet this time… Previous bounces off the 10s2s yield curve lows haven’t turned out that well for equities. related posts: Oil & Gas, Inflation and Interest Rates: Delicate Balance or Goal Seeking? Update on Bonds: Apr 27, 2018 Does the Yield Curve Matter? A Closer Look … continue reading →