Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Memetrics
novahockey
quarterback
ScottC
yellojktVital Statistics:
| Last | Change | |
| S&P futures | 4,069 | 10.8 |
| Oil (WTI) | 64.79 | -1.27 |
| 10 year government bond yield | 1.69% | |
| 30 year fixed rate mortgage | 3.19% |
Stocks are higher this morning after a two-day sell-off. Bonds and MBS are up small.
The producer price index rose 0.6% MOM and 6.2% YOY in April. Again, year-over-year comparisons are going to be distorted by the lockdowns of a year ago, so take those numbers with a grain of salt. Unlike the hot CPI reading of yesterday, the bond market took these numbers in stride.
Initial Jobless Claims fell to 473,000 last week. So despite the lousy jobs report, at least unemployment claims are going in the right direction.
Federal Reserve Vice Chairman Richard Clarida said that the jobs report and the hot CPI reading does not change the Fed’s outlook or plans for the economy. “We would not hesitate to act to bring inflation down,” if needed, Clarida said. But “this is one data point, as was the labor report … We have been saying for some time that reopening the economy would put some upward pressure on prices.” Note that Clarida characterized last Friday’s jobs report as the “biggest miss in history.”
Filed under: Economy, Morning Report |
All Things in Moderation 
You mean it can get worse?
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It’s always darkest right before it’s pitch black.
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I know SNL always loved the Democrats, at least it was funny.
I link this because it looks like the Carter years are now going to be a best case scenario.
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Not sure if intentional gaslighting or if they are just so out of touch that they think “just getting started” is a good thing to say after riots, inflation, war breaking out in the Middle East, gas prices elevating, yada yada.
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It is Twitter.
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When “reporters” are indistinguishable from the Stasi
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The Intercept’s video whining about selective editing etc, is priceless.
“They can’t do that to our pledges! Only we can do that to our pledges”
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I’m curious as to the story behind how The Intercept became what it has become. Glenn surely has some insight there, but even when he left it he didn’t really make it clear how something he helped to found for the purposes of objective reporting became another progressive mouthpiece and activist organization. Surely he has some idea of what sort of bad structural decisions made that possible.
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Ah, ok.
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