I was in an MRI tube getting a scan of the brain tumor that is causing me problems. So, I missed this morning’s new dump. And what a dump it was!
First, pending home sales have collapsed (down -30.4% YoY) for September. Look at pending home sales against M2 Money growth.
Then we have the employment cost index, up 5%. This will encourage The Fed to tighten further, even if it causes a recession.
How about the US Personal Saving Rate YoY?? It is down -59.3%.