by lmanna | May 29, 2026 | Uncategorized
Comments based on information available as of 5:15 am CT on 5/29/2026 Growth: the shock absorbers are mostly gone. A few months ago, consumers had some nice economic shock absorbers: the anticipation of generous tax refunds and a modest savings rate. This spring,...
by lmanna | May 15, 2026 | Macro & Market Musings
Comments based on information available as of 5:15 am CT on 5/15/2026 Growth: Something’s Got to Give Retail sales rose +0.5% in April, but excluding gasoline, sales only rose 0.3%. During that same period, inflation excluding energy was +0.4%, so real spending...
by lmanna | Apr 24, 2026 | Macro & Market Musings
Comments based on information available as of 5:15 am CT on 4/24/2026 Growth – False dawn? This upcoming week we will get a first look at first quarter gross domestic product (GDP) numbers. Don’t be surprised if they look surprisingly strong. Don’t get too...
by lmanna | Apr 17, 2026 | Macro & Market Musings
Comments based on information available as of 5:15 am CT on 4/17/2026 Growth: Turn Up the Volume? Pepsi’s first-quarter results offered a small but telling signal that the era of aggressive price hikes is hitting a wall.* After years of relying on pricing to offset...
by lmanna | Apr 10, 2026 | Macro & Market Musings
Comments based on information available as of 6:00 am CT on 4/3/2026 Growth: Running on Fumes? February’s personal income and outlays data raised an uncomfortable question about how much fuel the U.S. consumer really has left in the tank. Personal income fell in...
