Consumer sentiment rose for the first time in five months, according to the University of Michigan’s survey in August. … READ MORE >
Economics
Robust July retail sales defy growth scare
While the robust July retail sales numbers might come as a surprise given the various pressures on American consumers, the data was very well in line with our forecasts. … READ MORE >
US July CPI: Further moderation in inflation as Fed prepares policy pivot
Inflation continued to moderate in July as both topline and core inflation increased 0.2% while the former increased 2.9% from one year ago and the latter advanced 3.2%. The internals of the report tend to suggest that there will be further relief in the offing as housing and service inflation has plenty of room to ease further in the second half of the year. … READ MORE >
Producer prices grow slower than expected, adding evidence to support rate cut
Key inflation metrics reflect a more-than-tolerable range of inflation that requires no further tightening of monetary policy. … READ MORE >
Canada’s weak job market supports further rate cuts
Canada’s July jobs report spelled out the need for more rate cuts as the economy shed 2,800 jobs, according to data released Friday by Statistics Canada. … READ MORE >
Initial jobless claims fell 17,000 last week, easing growth concerns
The impact of Hurricane Beryl in Texas faded faster than expected in U.S. initial jobless claims data, helping push new claims to a four-week low of 233,000 for the week ending Aug. 3 … READ MORE >
Service sector bounces back in July, easing growth concerns
The ISM service index for July rose to positive territory at 51.4 after dropping in June to 48.8, suggesting that some of the concerns over an imminent recession looked overblown. … READ MORE >
Notes on a classic market panic: Unwinding of the yen-based carry trade
The case for a supersized 50 basis-point reduction at its next meeting on Sept. 18 has been bolstered by the recent market turmoil. … READ MORE >
Job creation slows in July as unemployment increases to 4.3%
U.S. job growth slowed in July as 114,000 jobs were added and the unemployment rate increased to 4.3%. … READ MORE >
Productivity continues to climb as investments take hold
The rebound of labor productivity in the second quarter is another sign of why the economy will continue to be on strong footing even as the labor market cools. … READ MORE >