FMI’s analyses of today’s October CPI report (including High-Frequency Inflation Indicators and October PPI), the November Philadelphia Fed Regional Manufacturing survey and the latest Weekly UI Claims & Rail Traffic data.
FMI’s review of today’s October Housing Starts results. Also last night, the Senate fell one vote short of 60 votes needed to overcome a Democratic filibuster of the Keystone oil pipeline project (all 45 Republicans voted yes, joined by 14 Democrats, including four lame ducks who lost in the November election).
From everything we hear, Abe is determined not only to call the early elections we discussed in our Nov. 11 Alert, but he is equally determined to postpone the next hike in the consumption tax from October 2015. Most likely he will postpone it until April 2017.
FMI’s review of the latest Weekly UI Claims & Rail Traffic results.
FMI’s analysis of today’s October NFIB Small Business Optimism Index.
In the face of a growing loss of faith in the Bank of Japan’s ability to either achieve its 2% inflation target in the foreseeable future or to help boost real growth—and even snarky passages in the press about BOJ Governor Haruhiko Kuroda “stealthily extending the deadline for exiting deflation”—Kuroda threw a “Hail Mary” pass.