Department Of Commerce

Frontrunning: November 3

  • House GOP Readies for Tax-Bill Battle (WSJ)
  • GOP’s United Front on Tax Cuts Masks Divisions (BBG)
  • Republican tax plan a blow to Democratic states, officials say (Reuters)
  • As Trump Embarks on Asia Tour, North Korea Looms Large (WSJ)
  • Apple Store Lines Return as iPhone X Debuts (WSJ)

Trade Wars Escalate: Trump Admin Hikes Tariffs On Bombardier To 300%

In a decision that's bound to infuriate the leaders of Canada and the UK, the US Commerce Department on Friday tacked on an additional 80% tariff against Bombardier C-Series Jets imported from the US's northern neighbor, adding to a 220% preliminary levy authorized last week...

Frontrunning: September 21

  • Mark Zuckerberg’s Political Awakening (BBG)
  • Bank of Japan Sticks With Easy-Money Settings (WSJ)
  • Bank of Japan board member demands more stimulus (FT)
  • S&P downgrades China, says rising debt is stoking economic, financial risks (Reuters)
  • Boston’s Fate Lies With a Zombie Hurricane as Maria Moves North (BBG)

Gun Stocks Soar On Report Trump Set To Ease Export Rules

In a week in which the MIC already scored big with Monday's sale of Orbital, today it was the NRA's turn to rejoice, when gun stocks soared on a Reuters report that the Trump administration was preparing "to make it easier for American gun makers to sell small arms, assault rifles and ammunition" to foreign buyers. The stocks of Ruger, Smith & Wesson and American Outdoor brands have all soared by as much as 18% on the news.

Three Reasons Why Retail Sales Are About To Disappoint Bigly

Retail sales ex-autos, as measured by BAC aggregated credit and debit card data, declined 0.1% in August. Controlling for the increase in gasoline spending, retail sales ex-autos and gasoline declined 0.4%: the sharpest drop YTD, and it's not just Hurricane Harvey's fault...

Frontrunning: September 12

  • Trump Plans Aggressive Road Show to Sell Tax Overhaul (BBG)
  • Trump to weigh more aggressive U.S. strategy on Iran (Reuters)
  • Florida Turns to Recovery as Irma Moves North (WSJ)
  • What to Expect at Apple’s Biggest Event in Years (BBG)
  • A $150 Billion Misfire: How Forecasters Got Irma Damage So Wrong (BBG)

Consumption Exhaustion

"Despite policymakers’ lack of regard for this burden, it is important to keep in mind that, as debt accumulates and consumers become less capable of repaying those debts, deleveraging ensues. This means that households will become unable to sustain the lifestyle to which they have become accustomed. Whether debts will be resolved through repayment or default, economic progress will falter."

U.S. Restaurant Industry Stuck In Worst Collapse Since 2009

After 17 consecutive months of continuous declines for the restaurant industry - the longest stretch since 2009 - the end of the tunnel for the restaurant industry is nowhere in sight, and according to the latest monthly data, there was a sharp deterioration in the latest monthly data.

Frontrunning: June 27

  • Stocks, dollar ease as central bank officials take center stage (Reuters)
  • Euro surges on Draghi comments, dollar slips (Reuters)
  • Yuan Surges in Afternoon Trade Amid Talk PBOC Supported Currency (BBG)
  • U.S. threatens Syria, says Assad is planning chemical weapons attack (Reuters)
  • Google Gets Record $2.7 Billion EU Fine for Skewing Searches (BBG)