Succinct Summation of the Week’s Events
Succinct Summation of the Week’s Events:
The Boock Report
Peter is the Chief Investment Officer at One Point BFG Wealth Partners and is a regular CNBC contributor. The Boock Report is easy to read macro and market news throughout the day, with Peter on what it means and why it matters.
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It was good to hear from Scott Bessent the day after/Walmart on the US consumer/Other notables
It was important to hear from Scott Bessent immediately after Wednesday’s news to give us his thoughts on why he did what he did.
Claims data still benign/Manufacturing rebound
Initial jobless claims totaled 206k, 4k below expectations but mostly offset by the 3k person upward revision to last week’s print to a still low 212k.
The day after/Commodity inflation spreads to ag/Earnings and other
I expressed my thoughts on what Scott Bessent & Co announced yesterday so don’t have much to add here but of course watching to see what the follow through is both in the US Treasury market and the US dollar.
What a box we are in as Treasury sells 20 yr paper after an eventful morning
I never write about a 20 yr because of its modest size and orphaned end of the yield curve but in light of the Treasury news today, let’s.
If at first you (US Treasury) don't succeed, try, try again
Long end Treasuries are rallying after the US Treasury is taking another step to stem the rise in long rates.
Wow, that is some move/Tech credit/Housing
I keep talking about the intensifying tech competition from China and how fast they are climbing up the tech sophistication ladder.
'Frozen housing market conditions'
The July pending home sales figure fell 2.3% m/o/m and follows a 4.8% decline in June.
Import price inflation/Housing construction
July import prices fell .4% m/o/m and followed a .3% drop in June, all led by the decline in energy prices.
Market says again, 'I don't want long duration paper'/Other important stuff
Seen again, the aversion to taking on long duration risk in bonds continues globally.
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NY manufacturing continues its rebound/Builder sentiment, as well as buyer traffic, remains muted
The August NY manufacturing index, the first August industrial figure out, rose to 20.6 from 15.6 and continues to reflect the manufacturing rebound after about 3 years of contraction.
How big is big?
How big is big?
Succinct Summation of the Week's Events
Succinct Summation of the Week’s Events: