FIRESIDE CHARTS

Financial Conditions, Retail Sales, Government Debt

Financial Conditions, Retail Sales, Government Debt

The financial markets are working in the Federal Reserve’s favor, as interest rates across the yield curve hit 5% this week. The tighter financial conditions are weighing on asset prices but, so far…

Peak Oil, Construction Spending, Equity Sentiment

Peak Oil, Construction Spending, Equity Sentiment

The International Energy Agency (IEA) revised their oil demand forecast to a new all-time high, surpassing the prior peak in 2019. The price of oil has displayed its signature volatility of late…

Real Rates, Crack Spreads, Unemployment

Real Rates, Crack Spreads, Unemployment

Interest rates hit new highs mid-week, bringing the 10-Year U.S. Treasury Yield back to its long-term average for the first time since 2007. Interest rates are now well in excess of trailing inflation…

Consumer Prices, Oil, the Magnificent Seven

Consumer Prices, Oil, the Magnificent Seven

Rising energy prices pushed the Consumer Price Index (CPI) to its largest monthly change in over a year but, below the surface, the increase in core CPI remained subdued. The price of oil is now at…

The Labor Market, Operating Margins, Excess Savings

The Labor Market, Operating Margins, Excess Savings

Job growth continued in August, but the unemployment rate unexpectedly ticked up as the labor force increased. Employment remains strong, but the gains are slowing and new entrants to the labor force…

The Economy, Business Investment, Consumer Spending

The Economy, Business Investment, Consumer Spending

Inflation continues its downward trajectory, and economic growth may be accelerating. Accelerating growth may keep interest rates higher despite lower inflation. While this may create a confusing…

Consumer Headwinds, China, Artificial Intelligence

Consumer Headwinds, China, Artificial Intelligence

Sentiment on the strength of the U.S. economy has improved dramatically over the past couple of months, but there may be headwinds on the horizon for U.S. consumers. Lenders are tightening credit…

Interest Rates, Profit Margins, New Home Prices

Interest Rates, Profit Margins, New Home Prices

The Federal Reserve raised interest rates, bringing the upper bound of their target rate range to 5.50%. This is widely expected to be the final rate hike, but in his press conference Chair Powell…