US household versus establishment employment surveys
Here’s a great chart from BMO showing the consistent jobs growth in the establishment survey compared to the household survey showing net job losses since June. On both charts, BMO…
Read More »Japan data: Final November Manufacturing PMI: 48.3 (prior 48.7)
The flash reading is here: Japan preliminary November PMIs: Manufacturing 48.1 (expected 48.8) The final reading has come in at 48.3, down from October but not as much as the…
Read More »Australian October 2023 Private Sector Credit +0.3% m/m (expected +0.4%)
Data from the Reserve Bank of Australia Headline is up 0.4% m/m and 4.8% y/y Housing credit up 0.4% m/m (house price being launched into orbit will do that) business…
Read More »Australia October Retail sales -0.2% m/m/ (expected +0.1%)
Australian retail sales for October 2023 -0.2% m/m expected +0.1%, prior +0.9% for the y/y, +1.2% There is little faith in the figures at this time of year, the relatively…
Read More »Strong auto sales hide slowing Canadian disretionary spending
Canada retail sales Friday’s Canadian retail sales report for September far-surpassed expectations at +0.6% compared to a flat reading expected. In addition, the advance reading for October was +0.8% in…
Read More »Goldman Sachs highlights China’s property sector negative feedback loop
Goldman Sachs on China, in brief from a video interview on CNBC, I’ve pulled out some points: consumption strength may be related to the singles day sales (November 11) remains…
Read More »Sam Altman forced out as OpenAI CEO
If artificial intelligence is the future, then Sam Altman was the man delivering it. The CEO of OpenAI, which created ChatGPT, was unceremoniously given his pink slip today. The company…
Read More »How have the Fed odds shifted after yesterday’s CPI data?
After a quiet start to the new week, the reaction to the US CPI data yesterday was certainly a banger. The dollar crumbled while stocks rallied hard, with the latter…
Read More »Former BOJ official says Bank expected to end its negative interest rate policy in April
BOJ seen ending negative rates in April, keep hiking next year BOJ dismantled YCC in Oct, laying groundwork for next move Service prices already rising, BOJ just waiting for evidence…
Read More »Moody’s changes outlook on USA soverign ranking to negative, affirms Aaa-rating
Fitch and S&P have already downgraded the US and now Moody’s has taken a step in that direction. The credit ratings agency maintained the USA’s top Aaa rating but changed…
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