Finance

Big Moves: Bears & Bottoms

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Yesterday’s explosive move higher was exactly the sort of thing traders should have been anticipating. As I wrote last month in Groping for a Bottom, it appeared the risks were highly one-sided: “The risk here feels asymmetric: The downside appears to…

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Links 11/11/2022

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‘Spectacular’ and bizarre ocean creatures (like stilt-walking fish) found living near deep-sea volcanoes LiveScience Thought To Be Extinct for 80 Years – Scientists Rediscover a Unique Insect SciTech Daily The Importance of Whiskers to an Animal Laughing Squid. Original paper from…

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Trend CPI Down?

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M/M headline vs. core vs. trimmed mean vs. median: Figure 1: Headline CPI inflation (blue), core CPI (tan), 16% trimmed mean CPI (green), median CPI (red), m/m annualized, %. NBER defined peak-to-trough recession dates shaded gray. Source: BLS, Cleveland Fed via…

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Housing and Inflation

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by Calculated Risk on 11/10/2022 02:02:00 PM Today, in the Calculated Risk Real Estate Newsletter: Housing and InflationA brief excerpt: A few key points:• The Fed has been raising rates to slow inflation. Since housing is a key transmission mechanism for…

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MBA: “Mortgage Delinquencies Decrease to New Survey Low in the Third Quarter of 2022”

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by Calculated Risk on 11/10/2022 11:33:00 AM From the MBA: Mortgage Delinquencies Decrease to New Survey Low in the Third Quarter of 2022 The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.45…

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Cleveland Fed: Median CPI increased 0.5% and Trimmed-mean CPI increased 0.4% in October

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by Calculated Risk on 11/10/2022 11:18:00 AM The Cleveland Fed released the median CPI and the trimmed-mean CPI this morning:According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.5% in October. The 16% trimmed-mean Consumer Price…

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Homelessness Among Older People Is on the Rise, Driven by Inflation and the Housing Crunch

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Yves here. This report on desperation among older people is both sad and infuriating. Anglo cultures promote nuclear families, which makes them a poor safety net. Neoliberalism has gutted social services, weakened community ties, increased housing costs, and shortened job tenures.…

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Stock futures soar after inflation comes in below estimates during October

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ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email CNBC's Rick Santelli joins 'Squawk Box' to break down October's key inflation data, which showed that inflation increased less than expectated during the month. 02:10 9 minutes ago

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Nike co-founder Phil Knight on election donations: I do not expect everyone to agree with me

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ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Nike co-founder Phil Knight joins CNBC's 'Squawk Box' to discuss why he donated millions to candidates running in Oregon's gubernatorial race and more. 05:01 39 minutes ago

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FTX is past liquidity problems and is now in solvency territory, says Semafor’s Liz Hoffman

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ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Semafor’s Liz Hoffman joins CNBC's 'Squawk Box' to discuss Binance's decision to back out of its planned acquisition of FTX and breaks down what it means for the…

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Links 11/10/2022

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Hippo’s ‘snooze bubbles’ at Texas zoo captivate internet. ‘You’re adorable Timothy’ Fort Worth Star-Telegram Octopuses throw objects at one another, researchers observe Guardian After steep September slide, US imports stabilize in October Hellenic Shipping News Climate Grim outlook on global warming…

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Knowledge Overconfidence: “Why do the heathen rage, and the people imagine a vain thing?”

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Yves here. Some recent paper attempt to show that those who don’t buy into the scientific consensus on many topics suffer from Dunning Kruger effect, as in overestimating their knowledge and yet having great certainty. But the conundrum is that many…

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Unconventional Wisdom

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One of the best aspects of getting the midterm elections behind us is that we no longer have to hear an endless firehose of drivel coming out of television, radio, and print media. It’s not merely that the main pundit narratives…

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