Description
Retail and Pharmacy giant Walgreens now says there won't be a second half rebound after all, not according to its view of the consumer economy. It was seconded by Levi's and then European behemoth H&M. All of that ties together with a record low in US pending home sales and a summer driving season that's already an enormous bust as recession forces bear down.
Eurodollar University's Money & Macro Analysis
NBCNews Walgreens plans store closures as CEO says consumers 'stunned' by priceshttps://www.nbcnews.com/business/business-news/walgreens-plans-store-closures-ceo-says-consumers-stunned-prices-rcna159208
CNBC Levi’s shares drop 15% as jeans maker’s sales disappoint despite denim crazehttps://www.cnbc.com/2024/06/26/levi-levi-earnings-q2-2024.html
CNBC H&M plunges 13% on doubts over full-year margin target, June sales outlookhttps://www.cnbc.com/2024/06/27/hm-plunges-12point5percent-on-doubts-over-full-year-margin-target-june-sales-outlook.html
Bloomberg US Pending Home Sales Index Slides to Record Low on High Rateshttps://www.bloomberg.com/news/articles/2024-06-27/us-pending-home-sales-index-slides-to-record-low-on-high-rates
https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU
Eurodollar University's Anniversary Webinar: The Fundamentals of Interest Rates over the Next 12 months.Sign up below:https://event.webinarjam.com/channel/rates
Soft landings and resilient economy supported by strength in labor markets. At least that's the narrative, the truth is completely different. Much of the developed world is being swept up in a wave of rising unemployment. Yes, including the US.;/
Eurodollar University's conversation w/Steve Van...
Published 07/01/24
Another new low for JPY as the Japanese government is shuffling up its top Finance Ministry people. Everyone continues to blame the Fed for the yen's crash but the evidence conclusively shows that's not it. This only raises the question, what is it? The yen's own track record holds the answer and...
Published 06/30/24