THE GREAT CALL OF CHINA

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: * Trump had a call with Xi.   And then tweeted 10 times about the Wall. * China Manufacturing PMI moves below “50”.   We have the under. * China Services PMI improved in December, according to China’s National Bureau of Stats. *...

RICHMOND FED TURNS NEGATIVE

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: * Richmond Fed Manufacturing plunges to -8 in December. * Case-Shiller Home Price Index slowed to +5% Y/Y in October. RICHMOND FED MANUFACTURING INDEX TURNS NEGATIVE IN DECEMBER: In December, the Richmond Fed’s Manufacturing...

THE DOT PLOTS ARE THE WRONG KIND OF A.I.

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: * We are all waiting on the Fed and its “dot plot”, as if they know what they are doing. * If the Fed used artificial intelligence, the odds of a rate CUT would be going up. * Why?  Homebuilder Confidence is tanking, inflation...

U.K. PICKS THE WORST OPTION

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: * The U.K. has no idea what it wants to do with BREXIT, and that’s bad for business. * U.S. Job Openings jump back above 7 million, while Consumer Credit surges. * Japan Q3 GDP is revised lower. * China trade surplus improves...

A CHRISTMAS TRUCE

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: * We think there is no substance to the “truce”, aside from an attempt to buoy markets. * U.S. ISM Index turned higher in November, while Construction Spending fell in October. * China PMI’s still bouncing around the ‘50’ level....
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