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Whetstone Analysis commentary will help you stay sharp and up-to-date with the high frequency economic data and developments in Federal Reserve monetary policy.

“Terry gets it right without overstating small stuff. She sees a longer scope than many are capable of and sadly too few appreciate. Additionally, she arranges reports so that one does not feel they have been jumped ahead or need to review for clarity. Finally, she doesn’t ‘guess’, she puts down relevant details rather than trying to connect interestingly but unrelated dots.” — Martin McGuire, Managing Director at TJM Investments, LLC

“Terry brings a solid knowledge of the economic data and Fed history to bear in quickly distilling the essentials for consumption.” — Les Alperstein, President at Washington Analysis

 

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ECONOMIC DATA

High frequency US economic data reports from the Commerce Department, Labor Department, Treasury Department, Federal Reserve Board of Governors, Federal Reserve District Banks, and a variety of closely watched private sources.

First Cut: June ISM Manufacturing Index exceeds expectations, back in mild expansion

The ISM Manufacturing Index for June exceeded market expectations and reached 52.6 after 43.1 in May. While conditions for manufacturing…

First Cut: ADP National Employment Report for June has solid gains and a massive upward revision for May

The ADP National Employment Report for June had an increase of 2.369 million after a revised 3.065 million increase in…

First Cut: June Challenger report shows where COVID-19 is decreasing need for workers in leisure and hospitality and increasing it in health care

Announced layoff intentions were down 57.1% in June to 170,219 after the 397,016 in May in the Challenger report. Compared…

On the radar: Five District Bank surveys of service sector point to less contraction in June, but still in recession

The five District Bank surveys of the service sector in June showed overall conditions remained weak. What signs of expansion…

On the radar: Cigarette taxes up in Virginia as of July 1; will annual sales tax holidays provide a boost in 2020?

As of July 1, 2020, taxes on cigarette prices in Virginia will double. However, before concluding it is a major…

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CENTRAL BANK CENTRAL

Information and analysis about Federal Reserve monetary policy and policymakers.

Comment: Fed’s balance sheet securities holdings creep toward $6 trillion in June 10 week average

The Federal Reserve bought $20.8 billion in Treasury notes and bonds and $0.3 billion in Agency MBS in the week…

Preview: June 9-10 FOMC meeting should conclude that monetary policy remains appropriate

When the FOMC meets on Tuesday and Wednesday, June 9 and 10, it is too soon to look for any…

Comment: Fed’s holdings of securities just under $6.0 trillion in week ended June 3

The Fed’s outright holdings of securities were up only $1.4 billion in the week ended June 3, rising to $5.960…

Comment: Fed’s holdings of securities little short of $6 trillion in May 27 week

The Fed’s holdings of securities outright increased by $86.2 billion in the average of Wednesday, May 27 to $5.959 trillion…

Comment: Fed’s Beige Book reflected increased severity of economic downturn

The Fed’s Beige Book for the period between early April and mid-May had all 12 Districts describing various levels of…

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ON THE RADAR

Recaps, reminders, and random analysis of data and events that pertain to the US economy and monetary policy.

On a break until July 1, 2020

Whetstone Analysis is taking a break until July 1, 2020. I will be keeping an eye on the data and…

On the radar: Freddie Mac 30-year fixed rate at new low in June 18 data

The Freddie Mac rate for a 30-year fixed rate mortgage fell to 3.13% as of the June 28 data, a…

On the radar: Boeing orders gained in May to a meager 9 after 0 in April

Boeing reported new aircraft orders at a total of 9 in May. Two were to domestic buyers and 7 were…

Look forward at June 15, 2020 week: Consumers may be spending a bit more on big ticket purchases

A look forward to the June 15 week includes the numbers on retail and food sales in May. It is…

Look behind at June 8, 2020 week: Fed breaks the optimistic mood after the May employment numbers

A look behind at the June 8 week begins with many analysts continuing to try to make sense of the…

UPCOMING ANNOUNCEMENTS

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