Entries by Tom 2

What the Employment Cost Index Suggests About Inflation Rates

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Boring But Important: Employment Cost Index Part of our job is to watch indicators that are important and often overlooked by financial media and other research sites. To that end, an overlooked but important number came Friday via the Employment Cost Index (ECI), a quarterly reading of employment costs and wage trends. The ECI rose […]

Markets Today

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What’s Inside Today’s Report: —  Post election spread trade. —  Why an overlooked economic indicator from last Friday matters to you. Futures are slightly weaker for the second straight day as a further collapse in oil prices overnight has temporarily halted the rally in stocks. Oil fell below $76 overnight on news of Saudi price […]

Global Manufacturing PMIs

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Global Manufacturing PMIs Chinese Official PMI slid to 50.8 vs. (E) 51.2. German Manufacturing PMI was 51.4 vs. (E) 51.8. U.S. ISM Manufacturing PMI rose to 59.0 vs. (E) 56.0. Takeaway Although slightly disappointing, the final October manufacturing PMIs generally supported the fact that global economic growth wasn’t as bad as feared in October. Importantly, […]

Your Weekly Economic Cheat Sheet

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Last Week The actual economic data released last week were at best just “ok,” but that was overshadowed by the various statements, actions and expectations of the major global central banks. Markets were reminded that global central bank policy remains very easy (and will likely in aggregate get more accommodative in the future). The biggest […]

Markets Today

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Good Morning, What’s Inside Today’s Report: — Weekly Economic Cheat Sheet Futures are fractionally lower after global manufacturing PMIs underwhelmed. Asia and Europe both traded lower off the data, although the declines are moderate. Chinese, German and EMU manufacturing PMIs all slightly missed expectations but stayed (barely) above 50, reflecting the still fragile global growth […]