U.S. exports fell by 5.2% m/m in May ... that was the largest decline since April 2020. Before that, the largest drop since January 2009

Epic plunge in consumer goods imports ... -36.2% in the past two months

Good reminder that when recessions have been declared, they're already underway (the NBER goes back to identify the peak in activity)

2:00 pm: Not gonna look at a chart of the dollar 2:04 pm: Time to look at a chart of the dollar

Wow.

Kansas City Fed Manufacturing prices paid shot up to +51 in June

S&P 500’s record close: 6,144.2 S&P 500’s close today: 6,141.0

👁️

36% of S&P 500 Tech members made a new 3-month high yesterday ... most since last November

Equal-weighted S&P 500 still down -3.7% from its November 2024 all-time high

Disposable personal income fell by 0.6% in June ... first drop since January 2022

Social security transfer payments -7.3% in June ... largest decline since July 1971

For May* not June … typo on my part

For May* not June … typo!

Americans' interest income hit an all-time high in May

Supercore PCE Price Index up to +3.12% year/year in May

New YTD low for GS U.S. Financial Conditions Index (showing a significant easing/loosening of conditions)

34 days from peak to trough. 55 days from trough to new all-time high. S&P 500 officially erases the -18.9% as of today's close.

Russell 2000's close yesterday: 2,172.1 Russell 2000's close today: 2,172.5

Waller a bit lonely out in dove land per Bloomberg Economics’ NLP analysis