Inflation is not going anywhere for a while. It will be a permanent fixture of the economy for quite some time due to its sticky nature. This was pretty much conceded by Federal Reserve Chair Jerome Powell and the Federal Open Market Committee (FOMC). Unfortunately, despite President Joe Biden claiming that inflation has gone up […]
Money
3 key developments in the U.S. Treasury market today
Three key developments occurred in the U.S. Treasury market today. First, the two-year yield topped 4% for the first time in more than a decade. The other notable news on Wednesday was that the spread between the two- and ten-year yields widened to -42 basis points. This is crucial because it typically signals a recession […]
Pain at the pump again? Gas prices rise for first time in 100 days
For the first time since gasoline prices peaked at $5.012 in early June, the national average for a gallon of gas rose. According to the American Automobile Association (AAA), the national average pump price climbed by a penny to $3.68 per gallon. After a 100-day streak of declining national average gas prices, the streak is […]
U.S. homebuilder sentiment plunges for ninth straight month
Homebuilder sentiment has cratered in the United States amid rising interest rates and a slowing economy. The National Association of Home Builders (NAHB) Housing Market Index weakened to 46 in September, down from 49 in August. This was also below the market forecast of 47 and represented the lowest reading since May 2020. Plus, it […]
Atlanta Fed Bank slashes GDPNow model to 0.5% for Q3
After today’s abysmal economic data, the Federal Reserve Bank of Atlanta’s GDPNow model was slashed for the third quarter. On Thursday, the GDPNow estimate came in at 0.5% for the July-to-October period, down from the previous model figure of 1.3%. It should be noted that the GDPNow estimate was as high as 2.6% before several […]