A Bush-era payroll tax cut expired in 2012, and economists continue to worry about how it will impact consumer spending. After all, personal consumption continues to account for around 70 percent of GDP. The January retail sales report reflected a modest increase in consumer spending. However, economists reminded us that most Americans probably didn’t get […]
Chinese exports surged 21.8 percent in February. After a surge the previous month, Jan-Feb exports are up 23.6 percent. This happens at a time when exports for Taiwan and Korea fell. Societe Generale’s Wei Yao writes that the difference stemmed from a surge in Chinese exports to the EU (up 15.2 percent) and the U.S. […]
Chinese inflation data for February is out at 8:30 p.m. ET. Analysts polled by Bloomberg are looking for consumer prices to rise 3 percent on the year, compared with 2 percent the previous month. The reason this data is important is because consensus reflects a rising inflation trend, one that policymakers are always watching closely. […]
Nobody likes to admit that they were wrong, especially when the mistake is directly tied to one’s job description. With the stock markets surging to all-time highs, Wall Street’s most famous bears have found themselves struggling to explain to their clients why they were told to stay out of stocks. While each bear’s explanation is […]
Analysts at French bank Societe Generale have a big report out titled The Return Of Yield: Preparing For Rising Long Term Rates. The theme is very great rotation-y in that they argue that the economy is turning the corner, and interest rates are about to rise. Their language is strong and dramatic. A watershed moment […]