US Economy

Is a new US housing bubble inflating?

This is what happens when you have a competent vaccine rollout.

The bond backup is back and risk assets don’t like it with all kinds of action around the Australian dollar last night.

BofA with the note.

Standard Chartered with the note. Recall that they were just about the most bullish in the market prior to the release: Work disincentives likely a future issue, but not in April There is a lot of discussion on the big forecast miss of April non-farm payrolls (NFP).

Deutsche with the note on why elevated US activity and inflation are not over yet: Sorry, we’re out of stock So far, share markets have been relatively calm about supply chain problems.

There are lots of US jobs report bulls out there.

The excellent chaps at Nordea with the note: In our sister product, the week ahead, we mulled, if we are not experiencing something akin to a crack-up boom as the Austrian’s (Mises, Rothbard, …) describe it.

It’s usually worth listening to Larry Summers.

Last night’s ISM put the wind up forex markets: “The April Manufacturing PMI® registered 60.7 percent, a decrease of 4 percentage points from the March reading of 64.7 percent.

Look’s like the US Federal Reserve is “looking through” the blip in inflation figures in the US and has remained very accomodative overnight in its latest statement and subsequent press conference with no talking of tapering.

We have noted a few times recently that the US economy faces a hiccup later this year and early next as its fiscal stimulus growth pulse crashes with year-on-year comparisons.

Goldman has a crack: The Treasury has released a new more detailed description of its corporate tax proposals.

Markets clearly think it’s coming very fast.

This is what happens when you have a competent government.

Goldman has the details: 1.

The evidence continues to accumulate that once populations are vaccinated they rush back into travel.

Some more today on the US economic recovery, which is the leading indicator for the world as the vaccine glut approaches in H2.

Nobody is going to accuse MB of failing to fight the good fight for better democracy, less unequal capitalism, and a purer version of liberalism.

The Biden Admininsatrion has already delivered a much larger fiscal support package than anybody in markets predicted.

The next cab off the rank for the Biden Administration is a giant infrastructure package.

Will the Fed panic this week?