The spot price of 5.5-inch diameter North American steel pipe, used by drillers to extract oil, has soared more than 20% over the past month. … READ MORE >
Market minute: Rates in Europe and Japan signaling a stronger euro and yen
The dollar’s recent five-month appreciation versus the euro appears to have topped out, reversing the dollar’s move toward parity. … READ MORE >
Quantum of solace: Inflation cools ahead of tariff-induced price increases
Service inflation and rents, though, are still advancing a well above 4%, which in conjunction with slowing growth does not bode well for the economy … READ MORE >
Market minute: The policy determinants of the rising euro
The euro is poised to appreciate against the dollar as the continent loosens fiscal restraints to rebuild its defenses. … READ MORE >
Market minute: Risk of stagnation, stagflation and slower growth
Despite the trading community pricing in three rate cuts this year, employment, wage and inflation data imply a Fed that may be reluctant to reduce rates into an economy that is slowing amid sticky inflation. … READ MORE >
Market minute: Concern over government shutdown showing up in money markets
The one-month T-bill rate of 4.29% is now below the 4.30% three-month rate and about to breach the Federal Reserve’s repo-facility award rate of 4.25%. … READ MORE >
The risk of an inventory correction is rising
Producers and wholesalers have prepared for higher tariffs by buying goods in advance, which is creating the conditions for a modest inventory correction should demand slow. … READ MORE >
Solid labor demand persists as U.S. economy adds 151,000 jobs in February
The American economy added 151,000 jobs in February, a sign that demand for labor remains solid amid the significant policy changes in Washington. … READ MORE >
Market minute: Manufacturing expectations show divergence of prices paid and capital expenditures
Our RSM US Manufacturing Outlook Index remains underwater, suggesting less than normal manufacturing activity. … READ MORE >
Market minute: Job growth, unemployment and federal contractors
We expect the U.S. jobs report for February to show a net increase in employment of 160,000 and an unemployment rate of 4%. … READ MORE >