America’s “true” wealth is not just the capital accumulated at home; it is the purchasing power and flexibility the country gains from an unmatched global production network. Import-price data from the Bureau of Labor Statistics (BLS) underscore how that network supports: 1 — Companies Broader operating margins thanks to low-input costs Price discipline that … [Read more...] about The True Wealth of the U.S. System — Why Globalized Production Still Counts
market economics
Employment‑Driven Consumption: What’s Really Propping Up the Data?
Overall consumption is being sustained by real income growth at the aggregate level, thanks chiefly to continued gains in total employment. On a per‑capita basis, however, households remain cautious: spending per worker is subdued; it’s simply the larger number of workers that keeps the retail figures afloat. None of this is new, which is why recent retail‑sector data came in … [Read more...] about Employment‑Driven Consumption: What’s Really Propping Up the Data?
Key take-aways from cpi macro tape
1 — CPI: Services & “Food-at-Home” Dominate Headline CPI: 2.7 % Y/Y in June (up from 2.4 % in May). Shelter cooled, but: Medical-care services rose 0.6 % M/M; now 3.4 % Y/Y. Food-at-home gained 0.3 % M/M; 2.4 % Y/Y. Implication: Services inflation has re-emerged, making a near-term Fed cut unlikely. 2 — Long Bonds Under … [Read more...] about Key take-aways from cpi macro tape
June CPI (Release 15 July 2025): Why the Market May Shrug
Even if June headline CPI comes in near 0 % m/m (≈ 2.3 % y/y), policy-rate relief is unlikely while short-term bills trade on the Fed’s floor and fiscal worries linger. 1. Components that drive ~50 % of the index Energy (~7 % weight) Regular gasoline: roughly flat month-on-month. Diesel No. 2: retail price up about 3 % m/m. … [Read more...] about June CPI (Release 15 July 2025): Why the Market May Shrug
Thin-Tape, Quiet-Vol Sessions What the Macro Picture Is Really Saying
What is really behind the slow down in volume and market participation? 1. Hushed Price Action, Few Catalysts Both the overnight Globex trade and the post-lunch U.S. cash session continue to show exceptionally light volume and realised vol. Neither the latest GDP print (−0.5 % q/q, chained) nor May’s personal-income / spending figures managed to jolt the market, … [Read more...] about Thin-Tape, Quiet-Vol Sessions What the Macro Picture Is Really Saying
Why are these economic releases more relevant Jobs report and personal income than inflation news?
Why Jobs and Income Data Matter More Than Inflation in 2025 As of 2025, why are these economic releases—Jobs Report and Personal Income—more relevant than inflation news? 1. Why we watch these two reports as traders and market participants Report When it’s released Why it matters … [Read more...] about Why are these economic releases more relevant Jobs report and personal income than inflation news?