The Friday Investment Data Wrap

While everyone is celebrating, the debt market is flashing a warning sign. Our Friday Wrap explains why.

A Distilled Perspective Commentary from Patrick T. Bulger Analytics

• Debt markets appear to have opposed the Fed Exuberance.
  I believe the public narrative is being told backwards.

Here, the view is, The Fed cuts into bad things...
Next, you'd better have a pretty deep bench of conviction data.

Conclusion:
Bond market supports our underlying macro view.
See the blog to get our take on that.

Next, 
We view the Philly Fed report as weak.

Housing Permits came in weak.

Inflation numbers came in on the warm side.
We view business costs as up, with fading pricing power and a weak consumer.

• Global atmosphere still appears weak, 
  If trade and business are weak, yet debt is rising, 
  That ratio begins to move quickly...

Refi of Floating Leverage, Leases, mark to market could begin to show up.

Japan imports and exports were both down year on year.

China, Country Garden is said to have a first half Loss of about 18 to 20 Billion Yuan.

• Tariffs are still a hangover for smooth data, the general view is a tide in tide out data stream to remain in place for interpretation.
  Hence, PMIs from S&P Global were solid, watch for follow through.
  Note, ISM numbers were challenged.
• The Fed did mention to expect the upcoming Jobs report to have downward revisions in the September reading. 

Important notes: Always remember to separate Speculation from Investing, 
Recall that Economy is not Market and knowing how the puzzle pieces fit is imperative.  
It's a multi-dimensional forever variable set of data.  
When you don't know it, find an advisor who does.

I continuously immerse in the data so you don't have to.
I manage the portfolio so you don't have to.

Understanding this multi-dimensional data set is imperative for serious investors. 
For data & risk insight, 
Click the 'Ask' Button to start the conversation about your capital.

Great weekend to All!

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