The most important feature of the Nonfarm Payroll report continues to go unnoticed. We should be watching the response rate in the second revision of the data. That is where failed and shuttered business show up. This is important because the BLS methodology (and they are doing as well as possible with the tools at […]
Despite plenty of news, there was little market reaction. In a summer week including many vacations, we have a modest economic calendar but plenty of earnings news. I expect the punditry to be asking: What will disrupt the balance of news? Opinions about the balance are quite diverse, as a recap of last week shows. […]
The economic calendar is a light one, and many regular participants are on vacation. The most important data include PPI, CPI, and JOLTS, the best read on a tightening labor market. I expect pundits to put these pieces together and wonder: Is inflation finally on the horizon? Last Week Recap In my last edition of […]
The economic calendar is loaded with the most important reports. The four trading days are divided by a Wednesday holiday, meaning some extra days off for most. Normally the data would dominate the discussion. But many find the current story — steady growth, improved earnings, and lack of oomph in stocks—a boring one. This week’s […]
As I write this on Thursday night, very few people know what the August employment report will show. Only the President, Vice-President, and a few top economists get an advance look on Thursday afternoon. The BLS is in lockdown mode for eight days. Media sources get a look on Friday morning, but are cut off […]