Eric Wallerstein
Chief Markets Strategist @yardeni. formerly covering macro & markets @WSJ and on the open markets desk @NewYorkFed.
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Q2 productivity revised 0.2% higher to 2.5% Unit labor costs revised -0.5% lower to 0.4% Output revised +0.2%, hours worked unchanged. Amid the BLS labor revisions, the US produc...
We think the bull market is broadening to the S&P 493, but we're not convinced that the SMidCap rally has legs. Here's why: 1) S&P 500 forward earnings are climbing to new records...
the issue with cutting rates because inflation is moderating (the r* argument) is that rate cut expectations loosen financial conditions and risk heating up inflation. you won't...
Japan was a trendsetter in negative rate policy, now JGBs yield 1% for the first time since 2012. While Japan is America's largest foreign creditor ($1.19 trillion of Treasurys),...
Americans earned $3.7 trillion (saar) from interest & dividends in Q1, up from $770 billion four years ago. nice story from @DavidUberti https://t.co/0vZRabPZ8r
The economy simply isn't that sensitive to interest rates anymore: 1) Services make up 2/3 of consumption (& 61% of production) 2) Manufacturing has been flat since China joined W...
Pouring water on the idea that the $6+ trillion in money-market funds is simply 'cash on the sidelines' waiting to pour into markets, from @telisdemos https://t.co/HTZKsIr3m9 https...
New York Fed consumer inflation expectations: 1-year ahead: unchanged at 3% 3-years ahead: rose to 2.7% from 2.4% 5-years ahead: rose to 2.9% from 2.5% https://t.co/GhflK9Jm8X
Existing home sales fell -4.1% in October, down -14.6% from a year ago. New 13-year low. Economists expected -1.5% monthly drop. Median price up +3.4% from a year ago to $392K
Producer prices fell -0.5% in Oct, the biggest drop since April 2020. Economists expected a small increase. Retail sales fell -0.1% in October. After yesterday's flat CPI, the sta...
Nonfarm payrolls: +150k vs 170k expected in Oct Aug & Sept figures revised down combined 101K 10-year yield down to 4.57% https://t.co/LIHbz6VSmy
Americans aged 65+ are returning to the workforce in droves, which "may be related to money becoming tight for Americans as excess savings wind down and student loan payments resta...