Recap of Today’s Economic Data

There was a significant amount of economic data released today in advance of the Christmas holiday. There were no major surprises with 3 data points missing consensus, 2 came in at consensus and 1 exceeded consensus. The 3 missed were by a slim margin. The markets are mostly flat on the news. Typically headlines focus [...]

Personal Income, Employment Cost and Implications for Inflation

Monday morning, Rosenberg, in his eponymously named economic commentary “Breakfast with Dave”, continues to point out that deflation is a bigger risk currently than inflation. He states, There is no more significant source of inflation than the U.S. labour market and we found out on Friday that total employment costs slowed to just +0.4% in [...]