Macro
Data Round-Up: Strong PMI Argues Trade War Fears Exaggerated
FMI’s analyses of today’s June PMI and May Construction reports.
U.S. Tariffs Costs Will Be Borne Primarily by Foreigners
FMI’s commentary on the economic effects -- and potential benefits -- of Trump’s tariffs.
Data Round-Up: Existing Home Sales Continue Their Spring Slump
FMI’s review of this morning’s May Existing Home Sales report.
Data Round-Up: Manufacturing Surveys Show Solid Results for 18Q2 & Beyond
FMI’s reviews of this morning’s June Philadelphia Fed regional manufacturing survey and the latest Weekly UI Claims & Rail Traffic results
For Powell Fed, Less Would Be More
FMI’s commentary on how Jay Powell could improve further on his pretty good start as Fed chairman. Unfortunately, we harbor no illusions that these recommendations will be adopted. We offer them as food for thought -- and perhaps a smile -- for a Friday afternoon.
Data Round-Up: New Home Sales Post Surprise Southern Surge in May
FMI’s analysis of today’s May New Home Sales report. Also this morning, the Dallas Fed’s regional Texas Manufacturing Index rose +5 points to a robust 33 in June (company outlook measure); zero is break-even for the survey.
Data Round-Up: UI Claims Continue Near Record-Lows
FMI’s review of the latest Weekly UI Claims & Rail Traffic results.
Data Round-Up: U.S. Exports Continue Trending Up, Trade a Solid Positive for 18Q2
FMI’s analyses of this morning’s April International Trade report and revised 18Q1 Productivity & Labor Costs results, as well as a review of Vehicle Sales and Production.
Data Round-Up: May PMI Consistent with Solid Real Growth
FMI’s analyses of today’s May PMI and April Construction reports.