Economy
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Forward P/E Ratios – Mag 7 and Others
From Ed Yardeni’s website: Source: Ed Yardeni, Accessed 11/22. The Magnificent 7 forward P/E ratio, using prices…
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EJ Antoni’s Scary Picture … and a(nother) Emily Litella* Moment
EJ Antoni yesterday on X: This matters more than today’s jobs report or the inflation data when…
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What’s an Essential Worker (or Activity)? No October CPI, Employment Release, but We Get a Hole Where the East Wing Used to Be
I hear that no government funds (allegedly) were used to fund demolition of the East Wing of…
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Consumer Sentiment in November: Near Record Low
Michigan November final almost as low at June 2025: Figure 1: U.Michigan Economic Sentiment (blue), Conference Board Confidence…
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Manufacturing | Econbrowser
BLS measures (employment, hours) are down through September. Figure 1: Manufacturing employment, production and nonsupervisory workers (blue),…
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EJ Antoni Continues to See a Vast Conspiracy at BLS
From EJ Antoni on X today: Not even hiding it anymore – since when is a 119k increase just “edging…
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Updated Business Cycle Indicators, Including Employment
Incorporating employment (including implied benchmark NFP): Figure 1: Implied NFP preliminary benchmark revision (bold blue), ADP based author’s estimate (light blue),…
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Cumulative Percent Growth in Private NFP from BLS, ADP Compared
From the latest release: Figure 1: Private NFP from CES (blue), implied benchmark revision private NFP (light…
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Business Cycle Indicators and Nowcasts
Tomorrow, we get results for September employment. Bloomberg consensus is for +55K, compared to +42K at the originally scheduled release…
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SP500 and Bitcoin: Past Peak?
As of today’s close: Figure 1: SP500 (blue, left log scale), and VIX (tan, right scale). Source:…
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