Know The Difference Minute

New home sales are on fire 23.08.2023 1:03 ↓

Existing home sales in July fell 16.6% from a year prior but new home sales are up 31.5% 

Getting real about bonds 22.08.2023 1:04 ↓

Government bond yields have been mostly driven by increases in real yields. What does that even mean?

Level vs. Rate Of Change 17.08.2023 1:09 ↓

What's the difference? The monthly job reports are a good example. 

Some Economic Recovery, But We're Still On A Rollercoaster 16.08.2023 1:00 ↓

Most people think business cycles are actual cycles, but they're more like a rollercoaster.

China: Contagion Or Contained? 15.08.2023 1:04 ↓

Is the Chinese economy a "ticking timebomb"? Annex Wealth Management's Chief Economist Brian Jacobsen takes a look.

What did the latest CPI number tell us? 10.08.2023 1:02 ↓

The most visible 20% of spending is moving higher. 

Why markets get moody 09.08.2023 1:03 ↓

Yesterday, Moody’s Investor Services helped trigger a bout of pessimism when it downgraded some banks. Not much actually has changed. 

Credit card defaults are rising 08.08.2023 1:04 ↓

The default rate is headed the wrong way, rising to 3.7% in June. 

When diversification appears broken. 03.08.2023 1:02 ↓

People don’t think about diversification until it doesn’t work. 

Guess whose credit got dinged? 02.08.2023 1:02 ↓

Fitch, a credit rating agency, downgraded US government debt from triple-A. Does it matter? 

Job openings are trending downward. Why that's good. 01.08.2023 0:59 ↓

For a long time, job openings far exceeded the number of people actually looking for work. That's changing. 

The roving recession may be over. 27.07.2023 1:03 ↓

There were a few pleasant surprises in the GDP report.

Why didn't the Fed just phone it in? 26.07.2023 1:02 ↓

The big disagreement within the Federal Reserve isn’t about today’s move, but about whether there’s more to come, or, if this is good enough. 

Can China turn it around? 25.07.2023 0:58 ↓

China’s politburo, the central committee of the Chinese Communist Party, said the government will step up policy support for the economy. 

The leading economic indicator that leads nowhere? 20.07.2023 1:03 ↓

The Leading Economic Index has been negative 15 months in a row. If it’s leading, how far behind is the economy?

Why do markets sometimes react wildly to small numbers? 19.07.2023 1:01 ↓

A company earns one dollar less per share than expected and the stock tanks. What gives? Why do little numbers seem to have big effects on markets? 

Retail sales + 1.5%. But volumes are falling. 18.07.2023 1:04 ↓

Retail sales in June rose .2% month-over-month. Even the bulletproof food and drinking places category of spending barely increased from May to June. 

Is the earnings recession over even before an economic recession has begun? 13.07.2023 1:03 ↓

Is the earnings recession over even before an economic recession has begun?  Maybe, but probably not. 

Will lower inflation stick? 12.07.2023 0:58 ↓

The key question is whether lower inflation will stick. It probably will. 

Don’t confuse less bad for better 11.07.2023 1:02 ↓

Most of the labor market gains have really just been about repairing the damage from the 2020 lockdowns that destroyed more than 22 million jobs. 

Alligator jaws 06.07.2023 1:00 ↓

The gap between services and manufacturing is rarely this large. Historically, when the gap gets this large, it has marked a bottom for manufacturing, but, sadly, also a peak for services. 

A perennial trade war 05.07.2023 0:59 ↓

A trade war with China seems to be a perennial that just mutates into new forms. The latest is a chip war. 

Nothing to stress out about 29.06.2023 0:53 ↓

The Federal Reserve released results from its latest bank stress tests. Surprising no one, every bank passed. 

Politics and portfolios 28.06.2023 1:00 ↓

A key challenge for investors is to not let their political opinions adversely affect their portfolios. Political winds change and they don’t tend to be the biggest drivers of returns in portfolios. 

Whistling past the graveyard? 27.06.2023 0:53 ↓

In regards to the weekend 'mutiny' in Russia, maybe investors are simply asking, “What does this really mean for the profitability of corporate America?” Answer: probably not much.