Following yesterday’s slower than expected rise in consumer prices, this morning we see producer prices following a similar path with Core PPI dropping by the most MoM since April 2020 (-0.1% MoM vs +0.3% exp), slowing the annual pace of change for producer prices to +3.4%… Source: Bloomberg The headline PPI was unchanged MoM (considerably […]

US equity futures are again lower, although well off session lows, with small caps leading and tech stocks lagging as concerns over whether Democrats will push the US into a government shutdown over the weekend added to uncertainty around the outlook for the economy. As of 8:00am, S&P futures contracts fell 0.4%, in an extremely illiquid […]

Russia has rejected the US-proposed 30-day ceasefire which came out of the Jeddah meeting with Ukraine, describing that it would only allow Ukrainian forces to regroup. “This is nothing other than a temporary time-out for Ukrainian soldiers, nothing more. Our goal is a long-term peaceful resolution,” Yuri Ushakov, a senior aide to Russian President Vladimir Putin, […]

from the driving-another-institution-straight-into-the-ground dept Last month U.S. oligarch Jeff Bezos gutted what was left of the paper’s op-ed section, declaring that they’d only publish pieces that supported “personal liberties and free markets” (read: kinder to right wing, corporatist ideals). As Mike noted at the time, it was an obvious trampling of editorial discretion by billionaire […]

Another day, another tariff-based headline… President Trump threatened to enact a 200% tariff on European wine, champagne and other alcoholic beverages, the latest escalation in a brewing trade war between the US and the EU. The president in a social media post on Thursday said that he would move forward with the import duties if […]