Econ70
In the rush to safety during the week preceding the Credit Suisse failure, the biggest gainers among commodities included silver, up almost 10%, and gold, up about 6%. The biggest decliners were crude oil, down over 10%, gasoline, down about…
Read MoreThe Fed raises the Fed funds rate to tighten both financial conditions and lending standards. They in turn result in reduced lending and investment, which leads to slowing economic activity, and usually a recession. Since the SVB debacle, financial conditions…
Read MoreThe Friday File: 61% of Americans plan to celebrate St. Patrick’s Day and in the process collectively spend $6.9 billion. The previous record was $6.2 set in 2020. And it’s no wonder, 1 in 10 Americans can claim Irish heritage…
Read MoreTen days ago the 2-year 10-year yield curve was deeply inverted. Today the inversion is less than half what it was. The long end has fallen by half a point while the short end has fallen by over a point.…
Read MoreFebruary CPI rose 0.4%, down from 0.5% in January, and is up 6% Y-o-Y, down from 6.4% last month. However, core CPI rose 0.5% in February, up from 0.4% in January and is up 5.5% Y-o-Y, barely down from 5.6%…
Read MoreWhile distasteful, the Fed/Treasury/FDIC troika had no choice but to protect all bank deposits even in accounts with balances exceeding the $250,000 insured threshold. Absent that guarantee, depositors with holdings exceeding $250,000 would have raced to withdraw their excess monies,…
Read MoreThe Friday File: During 2022, the average amount left by the Tooth Fairy per lost tooth was $6.23, up from $5.36 in 2021, a solid rise of 16%. The Tooth Fairy was most generous in the South leaving $6.59, followed…
Read MoreWe are entering peak home selling season. The months with the highest premiums over asking price are March (8.9%), April (9.2%), May (12.6%), June (10.7%), and July (10%). The five days when sellers are likely to receive the highest premium…
Read MoreUsed-car prices are down 7% Y-o-Y, but up 4.3% M-o-M, the third month in a row of M-o-M increases, and the largest February rise since 2008. The car market remains about five million units short from the computer chip shortage,…
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