Author Archives: Danielle Park

ISM: demand isn’t there, layoffs are coming

Posted on July 10, 2023 by Danielle Park

Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee, discusses the takeaways from the ISM’s June factory report with Guy Johnson and Kriti Gupta on “Bloomberg Markets.” The ISM’s manufacturing gauge fell to 46, the weakest since May 2020, from 46.9 … Continue reading →

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Higher debt costs are economic death by a thousand cuts

Posted on July 7, 2023 by Danielle Park

Fed minutes on Wednesday telegraphed that voting members plan another 25 bps rate hike this month and 25 more by November. Market implied rates are shown below in blue versus expectations last week (pre-minutes) in orange. While rate cuts are … Continue reading →

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When doves cry

Posted on July 6, 2023 by Danielle Park

The US Fed expects a “mild recession”, and plans to keep rates higher nonetheless. That resolve will be tested as the lagging unemployment rate moves higher through 2024. Fed Minutes Show Concern Over Inflation, Job Market — DiMartino Booth with … Continue reading →

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