ZH: CEOs discussing Fed policy on Earnings calls soars to record
ZERO HEDGE reports: The July FOMC meeting confirmed Powell and company are inching closer and closer to embarking ...
AMZN: APPEAL UPDATEDSV: PRESSURE BUILDS AAPL: OPENAI FUNDING INTERESTCHRW: ANOTHER INSIDER CASHES INHLAG: GRI DISCLOSUREMAERSK: HOVERING AROUND FOUR-MONTH LOWSTSLA: CHINA COMPETITIONDHL: BOLT-ON DEAL TALKAMZN: NEW ZEALAND PROJECTDHL: SURCHARGE RISKKNIN: LEGAL RISKF: 'DEI' HURDLESPLD: RATING UPDATEXOM: DISPOSALS
AMZN: APPEAL UPDATEDSV: PRESSURE BUILDS AAPL: OPENAI FUNDING INTERESTCHRW: ANOTHER INSIDER CASHES INHLAG: GRI DISCLOSUREMAERSK: HOVERING AROUND FOUR-MONTH LOWSTSLA: CHINA COMPETITIONDHL: BOLT-ON DEAL TALKAMZN: NEW ZEALAND PROJECTDHL: SURCHARGE RISKKNIN: LEGAL RISKF: 'DEI' HURDLESPLD: RATING UPDATEXOM: DISPOSALS
ZERO HEDGE reports:
By Michael Every of Rabobank
None so blind as those that will not see
There are none so blind as those who will not see: except those who see things that aren’t there because it also suits their book.
“Deflation and Fed rate cuts!” scream the markets selling us ‘transitory’ for two years. Yet US CPI, 0.4% m-o-m headline and core as expected, and 4.9% y-o-y headline, a rounding-error tick lower than consensus, and 5.5% core saw no evidence of that if you dug in rather than stripping whichever elements of high inflation you don’t like this month out. Durable and non-durable goods have stopped deflating on a GDP-style 3-month/3-month annualized basis, which means CPI needs to be led lower by services, which are not doing so ex-housing.
Imagine if agri analysts, instead of making careful, honest forecasts based on the complex factors impacting on supply and demand –and the realpolitik of what producers and consumers are both willing to hear– made deliberately ridiculous forecasts just to push prices higher, so they would get paid more. That’s not how it works there, of course. But it is sadly how naïve economists with mean reverting models combine with shillltastic ‘Dow 36,000!’ types and 0DTE options nowadays…
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