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Real Personal Income August Data Exposes the Spending Paradox
The consensus read on August’s personal income and outlays data is broadly reassuring: spending is up, the consumer is resilient. Real personal income in August, however, fell 0.1…
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Amazon Prime Air Richardson Reveals What 500 US Cities Have Yet to Reckon With
The prevailing read on Amazon Prime Air Richardson is that it is a localised teething problem: noisy drones, annoyed residents, the usual friction that accompanies any new technology. The New…
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US Long Bond Yield Surge Reaches 22-Year High as PMI Rekindles Inflation Dread
The consensus read on the US long bond yield surge is that markets are repricing growth optimism. The data underneath that story is less comfortable: what is being priced is not just growth,…
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Diesel Export Ban Debate Heats Up as Pump Prices Hit Record $6.53
The diesel export ban debate has moved from the opinion pages to the Oval Office doorstep, with President Trump telling reporters a decision is coming ‘fast, one way or the other’,…
