Image Source: Pexels  We’re into 2025 and as we get going, we’re seeing a minor round of profit taking on long Dollar positions. But the price action is to be taken with a grain of salt in what is still super thin holiday trade. Key standouts on Thursday’s calendar come from German, Eurozone, and UK manufacturing […]

Image Source: PixabayWall Street has received good news this month through a Fed rate cut. The Fed enacted a 25-bp rate cut, but the move was insufficient to keep the broader market rallying. The reason behind this was hawkish Fed cues. The Fed now projects just two rate cuts in 2025, down from earlier expectations of […]

Image Source: PexelsWith ongoing political uncertainty, compounded by a tragic plane crash, South Korea’s economic situation is rapidly deteriorating. There is no doubt that 2025 will be a challenging year for the South Korean economy. However, it could also be a year that showcases its resilience and strength in the face of political instability. Macro policies […]

Image Source: Pixabay The other day I read a tweet complaining that since 1971 household family income had increased 5.5X (from $10K to $55K) while the median cost of a new car has gone up by 12X ($4K to $48K). It’s not quite correct. Median family income has risen to $101K, so has almost kept up. But it […]

The Philadelphia Fed’s Coincident Index is out, 2.1% m/m annualized (2.6% y/y): Figure 1: Implied nonfarm Payroll early benchmark (NFP) (bold blue), civilian employment adjusted using CBO immigration estimates (orange), manufacturing production (red), personal income excluding current transfers in Ch.2017$ (bold green), manufacturing and trade sales in Ch.2017$ (black), consumption in Ch.2017$ (light blue), and monthly […]