Putting The Stag In Stagflation

56
Tue, May 24, 2022 - 10:40am

Today's US economic data is gloomy and points toward worsening conditions and eventual recession. The amount of time before Powell Pivot II kicks in just got shorter.

As discussed in yesterday's podcast, we already have Goons Bullard and Bostic starting to walk back rate hike expectations. And now this. First, check today's flash PMIs for May and note how far below expectations they are:...

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Key Economic Events Week of 6/27

6/27 8:30 ET Durable Goods
6/27 1:25 ET Jul22 Silver option expiry
6/27 10:00 ET Pending home sales
6/28 10:00 ET Consumer Confidence
6/28 10:00 ET Richmond Fed
6/28 12:30 ET Goon Daly
6/29 8:30 ET Q1 GDP final guess
6/29 9:00 ET Chief Goon Powell
6/29 11:30 ET Goon Mester
6/29 1:00 ET Goon Bullard
6/29 1:25 ET Jul22 Silver off board
6/30 8:30 ET PCE and Core PCE
6/30 8:30 ET Pers Inc and Cons Spend
6/30 9:45 ET Chicago PMI
7/1 9:45 ET S&P Manu PMI
7/1 10:00 ET ISM Manu PMI

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