Inflation expectations have diverged from crude oil prices.
Source: The Daily Shot
US GOVERNMENT BORROWING EXPLODED IN OCTOBER
US budget deficit hit a STAGGERING $257.5 BILLION in October. This is up nearly 400% year-over-year versus $66.6 BILLION last year. This was also the 2nd highest deficit in the entire US history. Source: Global Markets Investor
Higher than expected US PPI + Powell's remarks yesterday sent rate-cut expectations notably lower - December less than 50-50 now...
Source: Bloomberg, www,zerohedge.com
Spoiler: France will continue to miss deficit targets.
It already has the highest tax burden in Europe, and there are no real structural reforms on the horizon. Source: Michel A.Arouet
⚠️US GOVERNMENT BORROWING EXPLODED IN OCTOBER⚠️
US budget deficit hit a STAGGERING $257.5 BILLION in October. This is up nearly 400% year-over-year versus $66.6 BILLION last year. This was also the 2nd highest deficit in the entire United States history. Mind-blowing numbers. Source: Global Markets Investor, zerohedge
It seems that the FED's neutral rate is higher.
Are they going to throw the towel on the 2% target? Source: Bloomberg, Lawrence McDonald
Both initial jobless claims and continuing claims were lower than expected last week.
🔊 Initial Jobless Claims came in at 217K versus the consensus forecast of 223K. 🔊 The 4-week average came in at 221K versus the consensus forecast of 226K. Source: CMG Venture Group
BREAKING 🚨 PPI data came out…
YoY Growth: • PPI (Oct), 2.4% Vs. 2.3% Est. (prev. 1.8%) • Core PPI, 3.1% Vs. 3.0% Est. (prev. 2.8%) MoM Growth: • PPI (Oct), 0.2% Vs. 0.2% Est. (prev. 0.0%) • Core PPI, 0.3% Vs. 0.2% Est. (prev. 0.2%) Source: Stocktwits
