Your Friday Economic Commentary Wrap,
What Stood Out This Week? What Did You Miss?

from The Distilled Perspective of Patrick T Bulger Analytics & Capital Management

We’re going to call this week’s wrap, Simply, Bullet Points to Chew On.
Happy Weekend All. Let’s jump right in…

• A big bank was said to be moving major amounts related to collateral?
• A repo fails spiked,
• The Fed stepping into repo?
• Less than ample?
• Within a week of Fed Speak?
• In mid-month?
• With ECB at the window for exponentially higher amount than normal?

Prolly nothin?
Or
Prolly somethin?
=== === ===

Keeping it simple,

• NY Empire State Manufacturing Index records a -3.9 for December,
• Philly Fed Manufacturing -10
• Another low Michigan Sentiment reading,
• Jobs at what appears to be stall speed.

Our view is, Inflation is Distractionary Data.

Which one of the multitudes of calculation methods???

• Inflation readings did not decline,
• They increased slightly less,

• Our net conclusion, we're likely paying more...
• Not some reason for celebration of any kind.

There's a clip going around of the President saying the Tariffs brought in 18T...
• Math check on Isle 5 please...
• Ummm, Yaaahhh, Gonna need to see the TPS Cover Sheet Math on that...

Data coming out of the government is chaotic
with some monthly numbers dating back to October, while we are in December...

• Here we examine more than just government headline foggy data.
• For more on currently viewed risk conditions and your positioning,
• reach out, Click the "Ask" Button

Best,
PTB

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