What does Qassim Suleimani’s death mean for the market?

On Thursday evening, Iran’s top security and intelligence commander, General Qassim Suleimani, was killed in a drone strike at Baghdad International Airport. The strike, which was authorized by US President Donald Trump, represents a potentially dangerous escalation in the growing confrontation between the US and Iran. How are the markets responding? Markets reacted quickly to […]


Q4 GDP Forecasts: 1.1% to 2.3%

From Merrill Lynch 4Q tracking rose to 2.0% qoq saar, boosted by trade and inventories data. [Jan 3 estimate]emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 1.1% for 2019:Q4 and 1.0% for 2020:Q1. [Jan 3 estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for […]


Construction Spending Increased in November

From the Census Bureau reported that overall construction spending increased in November: Construction spending during November 2019 was estimated at a seasonally adjusted annual rate of $1,324.1 billion, 0.6 percent above the revised October estimate of $1,316.8 billion. The November figure is 4.1 percent above the November 2018 estimate of $1,271.4 billion. During the first […]


ISM Manufacturing index Decreased to 47.2 in December, Fifth Consecutive Month of Contraction

The ISM manufacturing index indicated contraction in December. The PMI was at 47.2% in December, down from 48.1% in November. The employment index was at 45.1%, down from 46.6% last month, and the new orders index was at 46.8%, down from 47.2%. From the Institute for Supply Management: December 2019 Manufacturing ISM® Report On Business® […]