The Fed minutes just repriced the cash sleeve and the credit line
Prime sits at 7.00%, the cash floor at 3.75%, and August inflation at 3.4%.
The Long Horizon
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Financial events translated into path intelligence for long-term capital.
$372 billion a year for things you cannot ship.
The goods deficit swung $12.8 billion in August. The services surplus moved by less than a tenth of a billion.
Goods prices come back. Services prices do not.
The ISM services prices index rose again to 74.0, inside the half of a retirement budget that never gets cheaper.
Three times a day is not three times a decade.
The SEC cleared six 3x funds on Friday. Four of them track gold, silver, oil and gas.
The Invoices Behind 2027
The ISM prices index jumped almost seven points in September. That invoice reaches a shelf price in 2027.
Americans now keep one dollar in twenty-four
Real income after tax did not grow in August. Real spending grew 0.6%, and the difference came out of savings.
Your house got more expensive and bought less
Home prices rose 1.9% over the year to July while inflation ran 3.4%. That is the fourteenth month running.
$1.6 trillion of revenue that hasn't shipped yet
August durable goods orders read as unchanged. Core capital goods rose 14.1% over the year underneath them.
Two answers to one question, $59,000 apart
Households put long-run inflation at 3.4% on Friday. The bond market priced 2.33% in the same week.
483,000 houses for sale, 113,000 of them exist
The Glut And The Shortage Are The Same Number The Horizon New homes sold at an annual rate of 684,
A quarter closes September 30 and sets your 2027 contribution room.
The projected 401(k) deferral limit is $25,500 with an $8,500 catch-up. The rounding rules mean those numbers are already settled.
The bond market just priced the next two years. The Fed printed a different number.
Tuesday's two-year auction cleared at 4.787%. The Fed's own median path for the same window says 4.1%.
Think in years