Today the Institute for Supply Management published its February Manufacturing Report. The latest headline PMI at 50.7 percent is the fifth month above 50 after one month below. However today's number was below the Briefing.com consensus of 51.0 percent.
In the aftermath of the forced confiscation of bank accounts in Cyprus, the question that clients ask me most is, “could it happen here?” “Here” is wherever the client lives or invests, and could be the United States, Canada, Australia, New Zealand, Switzerland, or any other country.
A working paper published by the Economics Department of the Organization for Economic Cooperation and Development (OECD) last week examined the long term trends that are driving global crude oil supply and demand levels and hence influencing oil prices.
David Stockman’s new book “The Great Deformation” is a brilliant, penetrating analysis of the present state of the US economy and the US political system, and a detailed account of how the nation got into this mess.
It is a common trope in science fiction novels. Economic transactions are handled seamlessly with a wave of a card or a physically imbedded chip, and whatever the author imagines money to be is transferred, far removed from the archaic confines of ancient physical monies.
The University of Michigan Consumer Sentiment final number for April came in at 76.4, a welcome improvement over the preliminary reading of 72.3, but below the March final of 78.6.
For the past few months, there have been some catalysts that have depressed commodity prices. The number one reason has been the rally in the dollar caused by Italian elections, Cyprus’ banking issues, strong U.S. economics, and anticipation of Japanese easing monetary policy.