Trade-Weighted Dollar

October 8, 2019 The trade-weighted value of the dollar, which represents the value of the dollar against the currencies of a broad group of U.S. trading partners has risen 4.0% from where it was at this time last year. When you try to figure out the impact of currency...

Corporate Cash

October 8, 2019 Corporate cash holdings rose $134 billion in the second quarter to $2.80 trillion (above).  At 10.5% they are significantly higher than their long-run average of 9.8% of non-financial assets (below).  The problem with this series is that every time the...

Producer Price Index

October 8, 2019 The Producer Price Index for final demand – intermediate demand  includes producer prices for goods, as well as prices for construction, services, government purchases, and exports and covers over 75% of domestic production. Producer prices for...

Small Business Optimism

October 8, 2019 .Small business optimism fell 1.5 points in September to 101.8 after having declined 1.6 points in August.  The August 2018  level of 108.8  broke the previous record high level of 108.0 set 35 years ago back in July 1983.  The current level of...

Private Employment

October 4, 2019 .Private employment rose 114 thousand in September after climbing 122 thousand in August and 122 thousand in July.   A better reading of what is truly going on is typically represented by the  3-month moving average of private employment which is now...

Payroll Employment

October 4, 2019 .Private employment rose 136 thousand in September after climbing 168 thousand in August and 166 thousand in July.   A better reading of what is truly going on is typically represented by the  3-month moving average of private employment which is now...