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BoE Preview: “Should Be A Non-Event”

As DB’s Jim Reid writes, the BoE meeting due in minutes, should be a non event as recent inflation prints and macro data were broadly in line with consensus. Notably, any discussion on what the Brexit breakthrough on Friday might mean for policy could be the most interesting feature. Here is some more courtesy of […]


Stocks Rebound From “Bama Shock”, All Eyes On Yellen’s Last Rate Hike

After an early slide last night following the stunning news that Doug Jones had defeated Republican Roy Moore in the Alabama special election, becoming the first Democratic senator from Alabama in a quarter century and reducing the GOP’s Senate majority to the absolute minimum 51-49, US equity futures have quickly rebounded and are once again […]


Mark Carney Forced To Explain Surge In UK Inflation To Highest In Almost 6 Years

The market expected Mark Carney to avoid it but it was just not meant to be. The BoE Governor will suffer the ignominy of a bizarre tradition of having to write a letter to the Chancellor of the Exchequer explaining why UK inflation is more than 1.0% above the target of 2.0%. The market had […]


Key Events In The Coming Week: Yellen’s Swan Song And Final Rate Hike; Draghi’s Silence, US Inflation

After last week’s payrolls report, the year is starting to wind down for economic events and capital markets, but not before one last hurrah for central banks: indeed, it is a very busy week dominated by central bank meetings for the FOMC, ECB, BOE, SNB and Norges Bank. We will also observe the controversial Alabama […]


David Stockman Lashes Out At Mainstream Media’s “Peak Fantasy Time”

Authored by David Stockman via Contra Corner blog, If you want to know why both Wall Street and Washington are so delusional about America's baleful economic predicament, just consider this morsel from yesterday's Wall Street Journal on the purportedly awesome November jobs report. Wages rose just 2.5% from a year earlier in November – near the same lackluster […]


Finally, An Honest Inflation Index – Guess What It Shows

Authored by John Rubino via DollarCollapse.com, Central bankers keep lamenting the fact that record low interest rates and record high currency creation haven’t generated enough inflation (because remember, for these guys inflation is a good thing rather than a dangerous disease). To which the sound money community keeps responding, “You’re looking in the wrong place! […]


Is America In Terminal Decline?

Authored by Raul Ilargi Meijer via The Automatic Earth blog, John Rubino recently posted a graph from Bob Prechter’s Elliot Wave that points to some ominous signs. It depicts the S&P 500, combined with consumer confidence and savings rate. As the accompanying video at Elliott Wave, What “Too Confident to Save” Means for Stocks, shows, […]


Weekend Reading: You Have Been Warned

Authored by Lance Roberts via RealInvestmentAdvice.com, Investors aren’t paying attention. There is an important picture that is currently developing which, if it continues, will impact earnings and ultimately the stock market. Let’s take a look at some interesting economic numbers out this past week. On Tuesday, we saw the release of the Producer Price Index […]


How Uncle Sam Inflates Away Your Life

Authored by MN Gordon via EconomicPrism.com, “Inflation is always and everywhere a monetary phenomenon,” once remarked economist and Nobel Prize recipient Milton Friedman.  He likely meant that inflation is the more rapid increase in the supply of money relative to the output of goods and services which money is traded for. As more and more […]


Treasury Curve Collapses To Fresh 10-Year Lows After Data Dump

Hot CPI, disappointing retail sales, slumping surveys, and a drop in real wages… is it any wonder the yield curve just flushed another 3bps to a 75bps handle – the flattest 5s30s curve since Nov 2007.   This is the 13th daily flattening out of the last 15 days…   Everything changed after China intervened […]


Core Consumer Prices Come In Hot – Rise At Fastest Rate In 6 Months

Following yesterday's hotter than expected PPI, Core Consumer Prices printed above expectations (+1.8% YoY vs +1.7% YoY exp) – the fastest rise since April 2017.   Headline CPI was in line with expectations at 2.0% – a slight slowing from last month…   The biggest driver of the increase in consumer prices was a 2.3% […]


US Futures, Global Stocks Extend Decline After Disappointing Chinese Data, Dollar Slides

U.S. index futures declined for the second day in a row, dipping 0.1% to the lowest in more than a week following declines in Asian and European shares. European stocks tried and failed to shrug off the negative sentiment that spurred broad-based declines in Asia following another month of disappointing Chinese macro data… … eventually […]


Key Events In The Coming Week: Taxes, Inflation, Yellen, Draghi, Kuroda And Brexit

This week’s economic calendar features several key data releases and Fedspeak. The main data release in US include: CPI inflation, retail sales, industrial production, housing data and monthly budget statement. We also get the latest GDP and CPI reading across the Euro Area; the employment report in the UK and AU, Japan GDP, China IP, […]


UK High Street Sales Suffer “Most Horrific” October On Record

The writing was on the wall two weeks ago when retail employment tumbled along with CBI-reported retail sales, but tonight's BDO High Street Sales Tracker should be the icing on the cake for any looming rate hike as like-for-like sales crashed 5.2% – describe by BDO as "the most horrific" October on record. It was […]


Asian Stocks Surpass 2007 Peak, Hit Record High As Chinese Inflation Comes In Hot

China’s factory prices (PP) jumped last month despite authorities’ continued attempts to curb industrial production to combat pollution. China’s PPI rose 6.9% in October Y/Y, higher than the projected 6.6% while consumer prices climbed 1.9%, also higher than the median forecast of 1.8%, and above last month’s 1.6% Y/Y increase. As Bloomberg notes, during last […]