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car sales

A Whole Lot of Synchronized

By |2021-07-12T17:26:32-04:00July 12th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Another day, another alarming piece of data delivered from China. Anyone looking for where the PBOC’s “surprise” RRR cut late last week is coming from, the Chinese car market provides yet another pretty stunning and consistent example. Together with other recent datapoints, as well as uniformly falling global bond yields, it’s more evidence for the growing very possibilities of a [...]

More Trends That Ended 2019 The Wrong Way

By |2020-01-07T18:28:37-05:00January 7th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Auto sales in 2019 ended on a skid. Still, the year as a whole wasn’t nearly as bad as many had feared. Last year got off on the wrong foot in the aftermath of 2018’s landmine, with auto sales like consumer spending down pretty sharply to begin it. Spending did rebound in mid-year if only somewhat, enough, though, to add [...]

Dimmed Hopes In China Cars, Too

By |2019-06-12T17:40:03-04:00June 12th, 2019|Markets|

As noted earlier this week, the world’s two big hopes for the global economy in the second half are pinned on the US labor market continuing to exert its purported strength and Chinese authorities stimulating out of every possible (monetary) opening. Incoming data, however, continues to point to the fallacies embedded within each. The US labor market is a foundation [...]

The Mark of the Eurodollar: Five Years of China Car Sales

By |2019-05-13T12:53:11-04:00May 13th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The biggest problem, among many, with 2017’s globally synchronized growth narrative was that it was always missing China. This was an enormous contradiction because the Chinese were supposed to be at the center of the rebirth. So much of what was being counted on from this “global growth” was figured to come out of the one country. And it was [...]

Something Different About This One

By |2019-02-19T19:33:50-05:00February 19th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In Japan, they call it “powerful monetary easing.” In practice, it is anything but. QQE with all its added letters is so authoritative that it is knocked sideways by the smallest of economic and financial breezes. If it truly worked the way it was supposed to, the Bank of Japan or any central bank would only need it for the [...]

Auto Sales Sink Again Without Harvey and Irma

By |2018-03-02T16:18:39-05:00March 2nd, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

I can’t help but wonder what the CNBC author was going to write. It’s not a sentence I ever thought I would put down, but in this case the omission might have meant something. In reporting on auto sales yesterday, the article started out with the ultimate cliffhanger: Major automakers reported lower U.S. new vehicle sales for February on Thursday [...]

More Hurricane Effects Wear Off; Auto Sales Slump in January

By |2018-02-02T17:23:45-05:00February 2nd, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The storm-assisted car-fest that ended last year appears to be fully winding down. Automakers overall posted weak sales to start 2018. They are putting on their best face, admitting widely that this year was going to be a tough one anyway as if they expected it. According to the Bureau of Economic Analysis, total sales (seasonally-adjusted) in January 2018 were [...]

Are Automakers Suggesting It Is About To Get Real?

By |2016-08-04T19:15:00-04:00August 4th, 2016|Economy, Federal Reserve/Monetary Policy, Markets|

Ford Motor issued a stark warning last week when reporting second quarter earnings. On its conference call, CFO Bob Shanks used the word “plateau” in relation to the possible trajectory of Ford sales later in the year. The company remained committed to its profit targets despite what it says are now increased risks that extend beyond Ford-specific conditions. Ford's results [...]

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