The ECI came in well above expectations. And also an increase in wage growth for my preferred metric, private workers ex incentive occupations seasonally adjusted (a mouthful, and unfortunately not published by BLS).

Up at a 4.2% annual rate in the first three months of the yr.

Ives, Fordham on AAPL & Protest. SINGLE BEST IDEA ON ⁦⁦Apple⁩ Podcasts SUBSCRIBE to Bloomberg Surveillance podcasts.apple.com/us/podcast/blo…

The Fed Meets, Earnings Season Continues...
What should investors be looking at? Get market insights on Bloomberg Surveillance Radio this morning, with
@TomKeene @PTSweeney Lisa Mateo
Watch us LIVE on YouTube right now:
youtube.com/watch?v=f39oHo…

Evercore's Emanuel: A big risk this week is when someone asks Powell: 'Could you see the Fed’s next move as being a rate hike under any circumstances?” How he answers 'goes a very long way toward determining whether the correction continues sideways or retests the lows.'

Ives, Fordham on AAPL & Protest. SINGLE BEST IDEA ON ⁦⁦Apple⁩ Podcasts SUBSCRIBE to Bloomberg Surveillance podcasts.apple.com/us/podcast/blo…

Cocoa prices down another >10% today, following an historic >15% plunge on Monday.

With Robert Burgess permission, let's declare the chocolate market has entered 'meltdown' territory.

Last month, we at @Opinion warned the cocoa market was 'disorderly.'
bloomberg.com/opinion/articl…

Why Traders Should Care About the Japanese Yen

James Lord joins tom keene and Paul Sweeney on Bloomberg Surveillance.

Get more on the Bloomberg Surveillance Podcast:

Apple: trib.al/uAAYu6a
Spotify: trib.al/QKSLbz3
Anywhere: trib.al/MlxM8MM

BREAKING: Study Finds Number Of Consumers Wanting To 'Learn More' Reaches All-Time Low

so in summary: Paramount fired its CEO, then hosted an earnings call for only 9 minutes, refused to take any questions, and played the mission impossible song on a loop

CHART OF THE DAY: Cocoa prices are melting down. New York and London cocoa futures are down ~15% today (that's, by far, the largest one-day % drop in data going back nearly 65 years).

#cocoa #chocflation

and, they have the spice.

A Bond Breakdown And Yen Rebound | Bloomberg Surveillance | April 29, 2024 youtu.be/tfKqLdum82g?si… via YouTube SEARCH

REQUESTED. Each day in the vicinity of 3pm Wall Street time, the FULL REPLAY. GO TO YouTube SEARCH Bloomberg Podcasts

I joined tom keene and Paul Sweeney to discuss the latest in the #Mideast and also the U.S. student protests, coining a new term (I think)—the “TikTok-ification” of global politics

…classic Walter Deemer, Dougie Kass

BERNSTEIN ups $AAPL to Outperform, $195 target:

“.. $AAPL has de-rated significantly amid a weak iPhone 15 cycle and fears that Apple’s China business is structurally impaired. We believe prevailing weakness in China is more cyclical than structural .. replacement cycle…

map of the day: countries of the world by population size

via Ansgar Wolsing

Great to be on Bloomberg Radio with tom keene and Paul Sweeney discussing Tesla’s China watershed news and Big Tech 🔥🏆🍿🐂👇BSurveillance Bloomberg

bloomberg.com/news/audio/202…

Desperation in Gaza and Identity Politics in America

Tina Fordham joins tom keene and Paul Sweeney on Bloomberg Surveillance.

Get more on the Bloomberg Surveillance Podcast:

Apple: trib.al/21yCKM5
Spotify: trib.al/GRsxiJx
Anywhere: trib.al/oVbW24k

tweet of the day

he's part cow