Today's CPI release did little to move the needle on FOMC policy.... Read More
November's payroll report surprised even the most optimistic economists' estimates. The return of striking GM workers helped, but even if that statistical quirk were ignored, the numbers were positive across the board.... Read More
Investors would be hard-pressed to find an asset class that has lost money in 2019.... Read More
In October, equity funds saw their third largest monthly outflow since the financial crisis and their eighth straight monthly outflow.... Read More
China has shed roughly $71 billion of U.S. Treasury securities since the first tariffs were implemented in early 2018. Over the same span, Japan has purchased an additional $86 billion in Treasuries.... Read More
The cost of medical care services, which make up almost 7% of the headline number, has risen 8.82% on a 3-month annualized basis. This marks the largest 3-month annualized increase since January 1991!... Read More
Firms with fewer than 20 employees have been a major driver of job growth since the last recession. They have shed jobs in 5 of the past 6 months.... Read More
Stocks and bonds both enter a favorable seasonal period.... Read More
Monthly fund flows through September 30, 2019... Read More
A look at the size of various markets compared to the U.S. economy.... Read More
Japan remains the largest foreign holder of Treasury securities for the third month running, but the Fed owns almost as much as China and Japan combined.... Read More
A look at inflation statistics through September... Read More
Private labor earnings growth turned lower on the back of markedly lower average hourly earnings in September.... Read More
Stock and bond total returns in 2019 are among the best of the past several decades.... Read More
Monthly fund flows through August 31, 2019... Read More
Japan remains the top foreign holder of U.S. Treasuries in July. China's forex reserves are also monitored for signs of retaliation on the trade war front.... Read More
In February, sticky core CPI hit its highest 12-month annualized rate since 2008. We will have to wait another month to see any possible effects from the coronavirus.... Read More
This month's payroll release missed on several fronts, but private sector earnings growth may offer a small silver lining.... Read More
U.S. Treasuries had one of their best months since 2008. While many are aware bonds have outperformed stocks in 2019, bonds have also proven to be the better investment over a 20-year horizon.... Read More
Monthly fund flows through July 31, 2019... Read More