Credit Contraction; Recession Indicators Grow
First, I have some bad news. My data provider decided to stop shipping futures data to me (it was a free service which I’ve used for over five years) –
Dead Cat Bounce; A New Reserve Currency
The markets were mixed for most of the week. However on Friday, there was a bit of a surprise rally in equities. Financial Entertainment News thought the pop on Friday
Fed Raises Rates 75 Basis Points; Europeans Back Immediate Peace
The big news of the week: on Wednesday, the Federal Open Market Committee (FOMC) announced a rate increase of +0.75% (75 bp) to 1.75%. This was hinted at on Monday,
Hot CPI print; Unconditional Surrender
The big news: on Friday at 8:30 am EST, CPI came in hot: +1.0% m/m, or an incredible +12% if you annualize the number versus last month’s +0.3% m/m. This
Oil in Storage Drops Again; Rising Disability as a Signal
Oil hit a new multi-decade (since 2008) weekly closing high this week, up +4.64 to 118.85. There was talk about OPEC+ pumping more oil to make up for Russia sanctions
