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So far puricassarag has created 139 blog entries.

July 2017

Economic Outlook – 9 July 2017


US The ISM manufacturing index kicked off the fireworks a day early on Monday, climbing to 57.8 in June. This was the best print for the index since August 2014 when oil was still nearly $100 a barrel. The details of the report were broadly encouraging for both current and future activity. The production subcomponent [...]

Economic Outlook – 2 July 2017


US The US economy expanded 1.4% in the first quarter of the year, which was a larger-than-expected upgrade in the final look at GDP this week. The improvement was largely on the personal consumption line, which actually rose 1.1% in Q1, much stronger than the 0.3% first estimated. Still somewhat soft relative to recent performance, [...]

June 2017

Economic Outlook – 25 June 2017


US In the US housing market, single-family and multifamily starts and permits fell in May despite the still-elevated level of builder sentiment. Relieving some of the worries, existing home sales came in stronger than expected in May, rising 1.1% to a 5.62 million-unit pace. Existing home sales are used to calculate broker commissions in the [...]

Economic Outlook – 18 June 2017


US The FOMC raised its short-term target rate 25 basis points at its June meeting to 1.25%, and published an addendum to lay the foundation for normalising the Fed’s balance sheet, with the caveat economic activity “evolves broadly as anticipated.” It is that anticipation that is causing the latest divergence in views between the Fed [...]

Economic Outlook – 4 June 2017


US May’s NFP (nonfarm payroll) report showed that 138,000 jobs were added for the month, while the unemployment rate remained low at 4.3%. Among the industries adding the most jobs for the month were, professional services, education and health, and leisure and hospitality. The unemployment rate dipped to 4.3% as the labor force participation rate [...]

May 2017

Economic Outlook – 28 May 2017


US New and existing home sales in April were released and both slipped further than expected. New homes sales were down 11.4% on the month and existing sales were down by 2.3%. April’s 569,000-unit pace of new home sales follows an upwardly revised 642,000-unit pace in March which marks the cycle-high for the series. Sales [...]

Economic Outlook – 21 May 2017


US Industrial production jumped 1.0% in April, surpassing expectations for a more modest increase. The series is now 2.2% above its year-ago level, which marks the strongest pace since 2014. The report details showed broad-based strength, as production rose across most household and business goods. Notably, manufacturing output climbed 1.0% on the month, and with [...]

Man vs. Machine


Guest Post by Monogram Capital Management. The overwhelming and indeed frequently published evidence that active funds across all asset classes are the poorly performing cousins of their passive rivals should come as no surprise given the large number of clever researchers doing their earnest best to ensure market efficiency1. Furthermore, the gold standard investment management [...]

Economic Outlook – 14 May 2017


US The National Federation of Independent Business (NFIB) Small Business Optimism Index kicked off the week with a small decline of 0.2 points in April. The decline was led by a drop in expectations for improvement in the economy, which fell 8 points following the initial unsuccessful attempt to replace the Affordable Care Act. Despite [...]