Having reached its highest since 2014 in mid 2017, Philly Fed has slid notably since and printed 22.2 in January - equaling the weakest since Dec 2016. 'Hope' took a big hit, dropping from 52.70 to 42.2, as new orders and employees weakened.
Housing Starts plunged 8.2% MoM in December (5 times worse than expected and the biggest drop since Nov 2016) and November was revised lower as it seems the exuberant steam is coming out of the housing 'recovery'.
Morgan Stanley is quietly becoming the world's largest discount hedge fund: assets in accounts on which Morgan Stanley earns management fees hit $1.05 billion, a record percentage of total client assets.
In a rare rebuke to White House Chief of Staff Gen. John Kelly, President Donald Trump Thursday morning repudiated claims Kelly had reportedly made during a meeting with the Congressional Hispanic Caucus on Wednesday...
In its latest monthly report, OPEC announced that according to secondary sources, December oil production by the cartel rose by 42.4kbpd from November to 32.416mmbpd, if 144kbpd below October's 32.56mmbpd level.
Today's story may not be stocks, but rather rates as the 10Y Treasury yield is now climbing above 2.6% for the first time since March, a key psychological level and Gundlach's "redline": "We are going to change the regime probably within the next 2-3 months."
"A thunderdous tweet twitters around the globe as Tax Reform causes a gigantic flying saucer to descend from the sky, and alight upon the small Californian town of Cupertino. Let joy be unconfined as the crew announce they will pay $40 bln in taxes, spend billions on contracts to local suppliers, and create thousands of jobs across America."
China bond yields rose ahead of the macro data avalanche tonight (following a leaked upside surprise print for GDP). GDP, Industrial Production, and Fixed Asset Investment all beat expectations but Retail Sales missed dramatically - growing at its slowest since Feb 2004.
The Clinton Foundation received some $88 million from Australian taxpayers between 2006 and 2014, reaching its peak in 2012-2013 - which was coincidentally Australian Prime Minister Julia Gillard's last year in office.
"...war rhetoric surrounding North Korea on both sides of the Pacific has never been more aggressive than it has been the past year... There are some people that see the entire affair as a "distraction," a distraction that will never amount to actual conflict. I disagree with this sentiment for a number of reasons."
"As a cyclist who uses the trail to ride to the beach often, over this last year it has gotten substantially worse. It is unsafe and unsanitary with loose dogs everywhere and human fecal matter scattered on the trail."
"De-dollarization -- dumping dollars for other goods of value -- has become popular not only with countries but also with ordinary individuals as a result of global technological growth and increasing access to the Internet."