70 Words

BEIGE BOOK

07/18/2024

Yesterday’s release of the Fed’s Beige Book, covering economic activity from mid-May through the end of June, will not be a best seller. While seven Fed districts exhibited growth, five districts recorded “flat or declining activity”. That is down from…

Read More

MORTGAGE MATTERS

07/17/2024

The state average mortgage interest rate varies from 3.8% in Colorado and Utah to 4.5% in Mississippi and West Virginia. Eight states are at 4.3% including FL, NY, and TX. General average rates rise as you move east. The variation…

Read More

MONTHLY MATTER

07/16/2024

Traditionally, house prices have declined when months-of-inventory exceeds six months. However, in 2022 we saw prices fall for seven months despite months-of-inventory in the 3s! That was probably a knee-jerk reaction to rapidly rising rates and memories of 2008/09. Months-of-supply…

Read More

INFINITESIMAL INFLATION

07/15/2024

Inflation, as measured by the CPI, declined 0.1% in June, the first M-o-M decline since 5/20 as inflation pressures continue receding. Y-o-Y inflation was 3.0%, the lowest reading since 6/23. Core inflation, a better measure, rose a scant 0.1% M-o-M,…

Read More

DATA DEVELOPMENT

07/12/2024

The Friday File: In 2008, data centers around the world collectively used almost 50 terawatts (TWh) of power. By 2012 usage had roughly doubled to almost 100 TWh, and by 2017 had doubled again to 200 TWh. At present, usage…

Read More

TSA TRAVEL

07/11/2024

On 7/6/24, 3.013 million people passed through US airport security checkpoints. This was the first time the total surpassed 3 million, is up 14% from the same day Y-o-Y, and breaks the previous record of 2.99 million set on 6/23/24.…

Read More

TRADE TRAVAILS

07/10/2024

The U.S. trade deficit steadily improved from a monthly high of $102 billion in 3/22 to $60 billion in 8/23, and the improvement unsurprisingly boosted GDP growth. Since then, however, it has worsened in eight of the last nine months…

Read More

SELECTING STOCKS

07/09/2024

Through the end of 24H1, only 18.2% of actively managed mutual funds and exchange-traded funds that compare their performance to the unmanaged S&P 500 index bested it. Believe it or not, that dismal average is down from 19.2% in 23H1…

Read More

LACKLUSTER LABOR

07/08/2024

Employers created a respectable 206,000 net June jobs, but April and May totals were reduced by a hefty 110,000 and the unemployment rate rose from 4% to 4.1%, its highest level since 11/21. While a July rate cut is unrealistic,…

Read More

VACATION VISITS

07/05/2024

The Friday File: The most visited country in 2023 was France with 100 million visitors. In second was Spain with visitors totaling 85 million. The third most popular nation is the U.S. with 67 million tourists. Next is Italy with…

Read More

Recent Posts

Categories

Archives