US average hourly earnings
The nastiest surprise in the data was a rebound in the rate of increase of average hourly earnings.
It’s still way above pre-pandemic levels, and far too high for the central bank.
John Authers Bloomberg 5 February 2024
Sju chefsekonomer med delade meningar (2,5 eller 2,25)
Samstämmigheten om oförändrad ränta på torsdag var total. Däremot är meningarna om vägen framåt delade. Var Riksbankens styrränta ligger om ett år landar ekonomerna hos Handelsbanken, Länsförsäkringar och Swedbank på 2,5 procent medan Robert Boije, SBAB, och Jens Magnusson, SEB, tror på 2,25 procent. DI 25 juni 2024 https://www.di.se/nyheter/experter-ekonomin-vander-men-sankt-ranta-forst-senare-i-ar/ They don’t want to be what investor Mark Kritzman calls “wrong and alone.” A manager with one-third of assets in Chinese stocks won’t get fired if that market falls, since almost every other firm has similar exposure. Being wrong together gives every manager plausible deniability. But a firm that holds little or nothing in Chinese stocks will be blamed by clients if China booms, since its funds will lag behind their competitors. Being wrong and alone is what gets asset managers fired. WSJ 24 September 2021 https://englundmacro.blogspot.com/2021/09/nobody-knows-anything.html
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