PPI: misses across the board again
PPI 0.2% M/M, Exp. 0.4%
PPI 8.0% M/M, Exp. 8.3%PPI Core 0.2% M/M, Exp. 0.3%
PPI Core 6.7% Y/Y, Exp. 7.2%,— zerohedge (@zerohedge) November 15, 2022
The final rallies before recessions are always the most fun.
Watch what happens once inflation relief turns into realization as to why inflation is dropping.— Sven Henrich (@NorthmanTrader) November 15, 2022
NOW CAN WE CALL IT A RECESSION? Jeff Bezos advises to ‘take some risk off the table,’ says economy currently ‘does not look great.’
Amazon To Fire 10,000 Employees, Largest Layoff In Company History
Over the past month, technology companies have laid off tens of thousands of employees. And the momentum in layoffs only appears to be worsening.
BANK OF AMERICA: THE CREDIT CARD DELINQUENCY RATE IN OCTOBER WAS 0.98%, UP FROM 0.92% IN SEPTEMBER – SEC FILING.
— Breaking Market News ⚡️ (@financialjuice) November 15, 2022
*As I’ve said before – the jobs that are being shed are marginally higher paying jobs (this doesn’t even account for the brutal layoffs in real estate/loan origination sector)
Will be Interesting how this plays out – but IMO it isn’t good for upside economic momentum t.co/s00sQd9aAb
— Adem Tumerkan (@RadicalAdem) November 15, 2022
Fed’s Barr Warns US Economy Will See ‘Significant’ Softening
Not just US:
China Oct data disappoints:
– retail sales -0.5% vs f'cast 0.1% (2.5% Sept) first drop since SH lockdown
– industrial output 5% vs f'cast 5.2% (6.3% Sept)
– FAI 5.8% vs 5.9% f'cast/first 9 months
– jobless rate 5.5%/youth jobless rate 17.9%We discuss @StreetSignsCNBC pic.twitter.com/KXMHYiyZsl
— Sam Vadas (@sam_vadas) November 15, 2022
China's Oct industrial production, retail sales, fixed-asset investment, real estate investment all missed expectations…
— Cathy Yuan Zhang (@CathyYuanZhang) November 15, 2022