Manhattan home prices falling at fastest rate since GFC
Archives of “Economy” category
rssChina Pigglet (blue) and Pig prices no sign of reversal in prices
Hong Kong Pork Prices hit all time highs
Global economic growth is getting crushed as seen in global PMIs
US vs. German yield spread breaking down from a multi-year support line!
Last two times coincided with the peak of the tech & housing bubble.
Fed policy turning uber dovish with stocks already at record valuations & late in the business cycle? Never ends well.
Powell: US economy in very good place but uncertainties weigh
More from Powell
- US economy in a very good place but uncertainties weigh
- we’ve signaled that we are open to more accommodation
- We will use our tools to keep expansion going
- US consumer part of economy is intact
- worried by some weakness in business sector, tied to softness and global manufacturing
“The top 20 fund managers currently manage about 41 trillion dollars.”
Japan machine tool orders -38%, -27.3% last.
Japan Core Machinery orders for May -7.8% m/m (expected -3.7%)
Cabinet Office machinery orders data for May. The previous, April month data. showed an increase for three months running in the orders.
Despite wariness on the US-China trade war inducing capex caution. This data is seen as a leading indicator of capital expenditure six to nine months out.
May Core Machine Orders -7.8% m/m … ugly number … biggest m/m drop since Set 2019
- expected -3.7 %, prior 5.2% (biggest rise since Oct. 2018)
Machine Orders -3.7% y/y,
- expected -3.6%, prior 2.5%
Bank lending data for June out at the same time
Japan BoP Current Account Balance for May: ¥ 1594.8B (vs. expected ¥ 1380.9B)
Data release from Japan’s Finance Ministry, preliminary balance of payments statistics for May
BoP Current Account Balance for May, preliminary ¥ 1594.8B for a nice beat
- expected ¥ 1380.9B, prior ¥ 1707.4B
BoP Current Account Adjusted ¥ 1305.7B
- expected ¥ 1231.0B, prior ¥ 1600.1B
Trade Balance BoP Basis ¥ -650.9B
- expected ¥ -758.9B, prior ¥ -98.2B
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The background to this is shrinking exports due to economic growth slowing in China, trade wars impact. Japan has had a current account surplus for 58 straight months.