As anticipated, the Congressional Budget Office’s (CBO) projection for the federal budget deficit for FY24 has been revised up significantly. Adjusted to exclude the effects of shifts in the timing…
Amidst all the noise, it is worth taking a step back, to look at the bigger picture. Labour markets have so far been resilient to higher interest rates and remain…
The average 3-month change for private payrolls firmed to 206k in May, well up on the pace of job creation in Q4 of last year (155k). The share of industries…
The transition to net zero was already a gigantic task. But the AI boom puts the Paris Climate commitments further out of reach. Factoring in rising power demand from data centres,…
Treasury yields have been falling, but the latest set of inflation numbers do not suggest the Fed will be able to cut rates this year. The Fed’s preferred measure of…
