New Deal democrat’s Weekly Indicators for December 8 – 12
Weekly Indicators for December 8 – 12
– by New Deal democrat
My “Weekly Indicators” post is up at Seeking Alpha.
While there were no significant changes in the ratings, two big stories stand out:
(1) the nearly total re-normalization of the yield curve in response to Fed interest rate cuts; and
(2) evidence of further deterioration in the labor market.
The problem with Fed rate cuts, of course, is if they are in response to an economy that is about to roll over into recession. Yes, they lay the groundwork for a recovery, but you have to go through the recession first!
Also . . .
“Monthly government data for September included a poor JOLTS report, with hires and quits at or near post-pandemic lows, layoffs and discharges near post-pandemic highs, and only the “soft” job openings series staying in range. And in Q3, the employment cost index was positive, but the “least positive” in several years.”
As usual, clicking through and reading will bring you up to the virtual moment as to the state of the economy, and reward me with a penny or two for my efforts in collecting and organizing the data for you.