Core US Factory Orders Better Than Expected In December

July Rate-Hike Off The Table After Producer Price Inflation Drops Most Since COVID Following yesterday's much cooler than expected, Goldman's Rich Privorotsky notes that today’s PPI print matters more for the core PCE read-through (Fed's favorite inflation indicator), particularly healthcare and financial services. While May's headline PPI print was hot, core was cooler than expected, and June's data release today was expected to show no change in headline producer prices. In fact, like with CPI, headline Producer prices actually saw deflation (-0.3% MoM), equaling the biggest monthly decline since April 2020. The...

The US is discussing whether to deploy nuclear weapons to additional European NATO member states to assure allies of its commitment to keeping them under its nuclear umbrella, The Financial Times has reported. Currently, the US has B61-12 nuclear gravity bombs deployed in at least five NATO countries under NATO’s nuclear-sharing program: Belgium, Germany, Italy, […]

Futures Slump, Ignoring Korean Euphoria, After Iran Rejects Trump Enriched Uranium Demands A steady rebound in US equities driven by peak insanity in Korea (where the two chip stocks that account for most of the market surged and sent the Kospi soaring more than 8% overnight) faded after a report that Iran’s Supreme Leader issued a directive that the country’s near-weapons-grade uranium must remain in the country, rejecting Trump's key ceasefire demand, while oil and bond yields jumped as traders waited in mounting futility to see whether hopes of a peace...