What Happened Last Week and What It Means to You: October 30, 2020
Economic data dump… GDP explodes… New business applications… PMI… Service Index… September retail sales… Unemployment… Hours worked…
Trump Team Expects 3% to 4% Growth… Incoming Treasury Secretary Mnuchin reiterated the Trump campaign’s economic growth target of 3.5%, even though the U.S. hasn’t grown that fast consistently since the 1990s. What it means – I think this will be a recurring theme as the next administration gets settled in office and the Republican […]
U.S. Consumer Prices Up 0.3% in September… Energy and housing drove prices higher. Core inflation, excluding food and energy, rose a modest 0.1%. What it means – Prices increased 1.5% from last year, and core inflation jumped 2.2%. That’s higher than the Fed’s 2.0% target, but they don’t use the Bureau of Labor Statistics’ core […]
The U.S. Created 156,000 Jobs in September, the Unemployment Rate Ticked up to 5.0%… Labor force participation increased slightly, pushing up the number of unemployed. What it means – Two things. First, more Americans came off the sideline and started looking for work. Second, not very exciting. The numbers weren’t high enough to require a […]
ICANN or Cant I… Will the US turn over the internet? Will free speech and free markets suffer? What it means – Some of the greatest companies today owe their success to a free internet. Google, Amazon, Yahoo, Microsoft, Apple, Snapchat, Facebook, Twitter and many more are just a few examples. On October 1st, President […]
Bond Yields Shot Higher Across the Globe as Prices Dropped… From the German bund to the U.S. Treasury, yields jumped on long maturity bonds as investors questioned the effectiveness of central bank policy. What it means – What took so long? Just about everyone on the planet not named Paul Krugman or a Central Banker […]