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CROSS CURRENTS LEAD US TO JAPAN

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: Too many cross currents … the U.S. macro picture has becoming blurred. Japan, despite all its problems, may be a safe haven for risk assets at this time. S. Durable Goods Orders fall, despite prior month being revised lower. S....

CORPORATE TAXES DOWN Y/Y

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: S. Tax Receipts up +2.5% Y/Y in June. Japan Trade data worsened in May, thanks to lower exports. Industrial / Factor output weakens in India, Italy and Japan. U.S. TAX RECEIPTS UP +2.5% Y/Y IN JUNE BUT CORPORATE TAXES FELL:...

C&I LOANS ROLL OVER, BUT OUR MODEL TURNS UP

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: C&I Loans are rolling over, and history suggests that’s a POSITIVE. Our GDP Model still forecasts economic acceleration, despite recent weakness in data. Industrial / Factor output weakens in India, Italy and Japan. C&I...

SERVICES ARE ROBUST WHILE FACTORY ORDERS SLIP

“Trump’s ideas for privatizing air traffic control — which recycle a tired Republican plan that both sides of the aisle have rejected — would hand control of one of our nation’s most important assets to special interests and the big airlines.” House Minority Leader,...
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