Michigan

New Theory Behind Stalled Economy: Retirees Are Hoarding Too Much Cash

For years we've written about the fact that Americans, young to old, are lousy savers. That said, we were somewhat shocked to come across a report from money manager United Income which effectively argues that American retirees are saving too much money rather than too little.  So which is it?

UMich Confidence Ticks Up As Inflation Expectations Slump To Record Lows

Preliminary May data from University of Michigan shows a small uptick in overall consumer sentiment (from 97.0 to 97.7), back near cycle highs with 'expectations' rising modestly. However, Americans see medium-term expectations for inflation as the weakest on record... and Buying plans, however, were mixed: household durables rose to a decade peak, while vehicle buying conditions slipped to a three year low.

Markets All Too Quiet Ahead Of Inflation, Retail Sales Data

Asian stocks and S&P futures are both feeling the weather this morning, while European stocks are little changed as traders have decided to hold back until today's key US CPI and retail sales data is released in under two hours.

A Sobering Look At The Future Of Oil

"Whether the world decides to stay in or get out of the oil business; governments, regulators and opponents must learn to read an income statement and balance sheet before dispensing any further advice on how the petroleum industry conducts itself. "

Trump Set To Nominate A Slate Of 10 New Federal Court Judges

Having been dealt a number of legal defeats at the hands of Obama-appointed judges in the early days of his administration, Trump is preparing to fill roughly 120 vacancies on lower federal courts around the country.  The first of those new appointments will come later today in the first slate of 10 nominees, which will be followed by "monthly waves of nominations."

Key Events In The Coming Week: Inflation, Spending In The Spotlight

With the French election now finally in the rearview mirror, this week's focus is on global inflation releases, with the spotlight falling on the US and China. We also have BoE and RBNZ rates meetings. In other data we note industrial production in the Eurozone, UK and Norway along with US retail sales and Fed speakers.

Macron Victory Leads To "Risk Macr-Off" In Europe, Poor China Trade Data Doesn't Help

It was supposed to be Risk Macr-ON after Emmanuel Macron's avalanche victory in Sunday's French presidential elections; instead as some banks cautioned and as we showed early in the overnight session, the market reaction has been the opposite with the victory fully priced in and especially in the European currencies and stocks, as well as S&P futures, we have seen a modest episode of Risk Macr-Off.