manufacturing

by Annaly Capital Management Bank of Canada Governor Mark Carney delivered a speech yesterday in Ontario that contained two observations that we think are certainly true: · “Insights from financial markets are somewhat fleeting at the…

Here's the ISM report in numbers and words. WHAT RESPONDENTS ARE SAYING ... "Business results (top and bottom line) continue to meet or exceed our operating plan and exceed prior year performance by double digits."…

A few years ago, Chris Dialynas and I wrote a piece which introduced the concept of “renegade economics”. It was derived from a Frank D. Graham’s 1943 essay titled, “Fundamentals of International Monetary Policy.” Graham, a Princeton…

by Edward Hugh Well, that didn’t last long, now did it. Two consecutive quarters of minimal GDP growth seem to have exhausted the forces of a more than fragile Spanish economy. All the post-June data we are seeing suggests the economy has…

Highlights The US dollar is mixed in quiet trading ahead of the US jobs report. With some risk-taking is returning to the markets on the back of data this week suggesting that the pace of the slowdown may be moderating and this is lending…

by Edward Hugh Well, as we all well know one swallow doesn’t make a summer, and one data point doesn’t swing an argument one way or another, but the latest retail sales PMI reading for Germany is far from being either uninteresting, or…

BBH CurrencyView Highlights The US dollar is broadly lower to start September as stronger data, especially from Australia and China encourage new risk taking. Yet this has not seen the yen and Swiss franc, beneficiaries of risk aversion,…

By John Lounsbury David Rosenberg, chief economist for Toronto's Gluskin Sheff, has a graph showing the history of the Philly Fed Business Outlook Survey.  I have added annotations below: Before this month and since 1968 there have…

By Comstock Partners It becomes clearer every day that the economy is headed for a renewed recession or a recovery so slow it will seem like one. Initial unemployment claims climbed to 500,000 last week for the first time since November…

By Annaly Capital Management. The initial estimate of 2.4% annualized real GDP growth in 2Q 2010 will likely be revised lower (probably to something with a 1%-handle, depending on who you ask) in light of new data for June that was worse…