retail sales

Rebalancing China’s Rebalancing

By |2018-09-14T13:11:22+00:00September 14th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s no longer possible to know what state Chinese industry may be in. This is no small matter. Industrial production in China is the bedrock of economic growth throughout the rest of the world. Without it, there really isn’t anything left to do but struggle. And since industry’s performance there is predicated on demand in [...]

What May Be The Final Month of the Fake News Boom

By |2018-09-14T11:30:23+00:00September 14th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

For the second consecutive month, retail sales recorded by gasoline stations surged by an annual rate of more than 20%. It was the fourth month in a row where sales have been up by nearly that amount. Last year’s jump in oil prices is feeding through in a number of ways. From headline inflation rates [...]

What’s Hot Isn’t Retail Sales Growth

By |2018-08-15T15:58:45+00:00August 15th, 2018|Commodities, Economy, Federal Reserve/Monetary Policy, Markets|

Americans are spending more on filling up. A lot more. According the Census Bureau, retail sales at gasoline stations had increased by nearly 20% year-over-year (unadjusted) in both May and June 2018. In the latest figures for July, released today, gasoline station sales were up by more than 21%. The last time they surged this [...]

Ugly China’s American Mirror

By |2018-08-14T11:46:26+00:00August 14th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Yesterday, we spotlighted Brazil’s economy as perhaps a leading indicator for where things stand. Today, it’s China’s turn. Neither are very encouraging. Both offer instead only growing concern. The reason isn’t just the possibility of the world economy rolling over in 2018, rather it’s from what level any deceleration might have begun. Despite the characterization [...]

Unwelcome August

By |2018-08-13T16:58:51+00:00August 13th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy|

There is just something about August. It is irresistible, apparently, in all the wrong ways. For starters, there are big ones and small ones but somehow they all line up against liquidity and plentiful eurodollar money. In the former class there was, of course, August 9, 2007, August 9, 2011, and August 10, 2015. Even [...]