MishTalk


 

Construction spending for the second quarter is off to a slow start as judged by housing starts.

Mortgage News Daily reports Construction Indicators Slide, Housing Starts Suffer.

annual consensus construction housing June permits rate starts unit year

 

India Bans Gold Exports “Without a Valid Reason” [0.02]

Posted on Aug. 16, 2017, 9:26 a.m. by MishTalk @ [source]

In addition to its crackdown on cash, India stepped up its attack on gold. India does that in a roundabout way, by cracking down on exports.

addition carats crackdown export free Gold import India Shipments trade

 

Every quarter, the New York Fed publishes a report on Household Debt and Credit.

The report shows serious credit card delinquencies rose for the third consecutive quarter, a trend not seen since 2009.

auto balances credit debt delinquencies household loan mortgage quarter report

 

July export prices rose 0.4% vs a 0.1% rise in import prices. Import prices in July posted an as-expected 0.1 percent increase as petroleum was up 0.7 percent in the month.

boost export finished import July month On petroleum rose year

 

The Keynesian economists and the monetarists at the Fed are singing a happy tune today as retail sales bounced 0.6 percent vs the Econoday consensus estimate of 0.3%.

The revisions help explain 2nd quarter GDP numbers, but now economists will likely revise the second quarter up.

auto consumer ex June quarter report Retail revision sales upward

 

Fed Chair Janet Yellen keeps citing consumer confidence and jobs as reasons consumer spending and inflation will pick up.

Curiously, the New York Fed Survey on Consumer Spending Expectations keeps trending lower and lower, despite survey-high expectations for wage growth.

Chair consumer expectations Fed lower projections report spending survey trending

 

Here’s one that came my way earlier today although the report was from January: New York Fed Chief Dudley has an Idea — Homeowners Should Tap Into Equity.

New York Fed President William Dudley on Tuesday encouraged homeowners to find “prudent” ways to tap into the equity that has built up in the homes, saying the boost in consumption would be a welcome shot-in-the-arm to the economy.

Dudley economy equity Fed home homeowners housing President tap York

 

Robots are taking our jobs says the Brookings Institute.

Robots, it turns out, are congregating densely in some places but are hardly found in others.

anxiety automation election Industrial map metro nation red robot states

 

Ian Narev, the CEO of Commonwealth Bank of Australia (CBA), the nation’s largest bank is set to step down amid money laundering charges.

Commonwealth Bank of Australia Chief Executive Officer Ian Narev will step down by the end of June 2018 as the nation’s largest lender seeks to mitigate the fallout from a money-laundering scandal.

allegations Australia bank CBA CEO Commonwealth Bank money laundering Narev nation scandal

 

President Donald Trump is ready to launch a new trade crackdown on China next week according to a Trump administration official.

Deutsche Welle reports US President Donald Trump ponders trade war with China.

China Chinese economic financial market North Korea reports trade trade war Trump

 

JCPenney announced a $62 million dollar loss for the quarter.

Please consider JCPenney Nosedives to All-Time Low on Big Loss.

Amazon consumer JCPenney overbuilt quarter Retail retailer sales stock store

 

For the first time in a long time, CME Fedwatch shows the odds of a rate cut in December rose considerably above zero.

Yes, that’s a long shot, but cut odds were zero on Thursday, zero a week ago, and zero a month ago.

ago CME cut December FedWatch hike odds rate rose shows

 

Dear President Trump, forgive my harsh language, but since you and your staff can use harsh language, why can’t anyone else?

Dear President Trump, here are some additional questions that I am sure are on the minds of nearly everyone familiar with the story.

answer building business Dear harsh language nation President Trump Venezuela

 

Robocar testing in Silicon Valley is underway. Wired reports GM’S Robocar Service Drives Employees Around SF for Free.

car cruise driving employees GM public Robocar testing truck years

 

The CPI rose 0.1% in July vs an Econoday consensus estimate of 0.2%. On the plus side, apparel prices, which had been on a long negative streak, rose 0.3 percent though the year-on-year rate remains in the negative camp at minus 0.4 percent.

Econoday estimate falling July negative On rate remain report year

 

Shall we play a game?

Let’s play global thermonuclear war.

attack China film game North Korea nuclear state Trump United War

 

Oh that “Elusive” Inflation! [0.09]

Posted on Aug. 11, 2017, 2:22 a.m. by MishTalk @ [source]

New York Fed President, William Dudley, says 2% inflation target will remain elusive even if price pressures pick up.

Inflation is not likely to reach the Federal Reserve’s 2% annual target this year even if monthly data begins to pick up as expected, said William Dudley, president of the New York Fed, on Thursday.

Dudley elusive factors Fed hit inflation President transitory William York

 

With the threat of nuclear war with North Korea looming, inquiring minds may be wondering what that threat is currently worth.

What’s the Threat of Nuclear War Worth?

Dow fell Gold Korea North nuclear threat VIX War worth

 

Producer Prices Unexpectedly Decline [-0.05]

Posted on Aug. 10, 2017, 5:20 p.m. by MishTalk @ [source]

The Producer Price Index (PPI) for final goods unexpectedly declined in July.

Lack of inflation has been the issue this year but July’s producer price report raises new concerns, that is disinflation.

energy fell food goods July PPI producer reading report services

 

The BLS report on preliminary Productivity and Costs, Second Quarter 2017 shows nonfarm business productivity increased 0.9 percent during the second quarter of 2017. Rather, the BLS uses Owners Equivalent Rent (OER) as a substitute for home prices.

data home hours hours worked inflation measurement productivity quarter report Understated