Economics Today – 08-01-2020

Economics Today is a discussion group where the participants define economic trends based on published data.  Sources include: Wall Street Journal, Morningstar, Zerohedge, Bloomberg, and others.

► GOLD

Is gold volatile?  Physical gold is in short supply. What’s your prediction?  And why?

► CREDIT CARD SPENDING

► FED RATES

US dollar declined further in response to the Fed’s cautious stance.  What will that mean?

HOME SALES

▲Mortgage applications remain robust.  Applications to purchase a home.

▼Compared to Refi applications:

► WHOLESALE INVENTORIES

Household Pulse Survey employment index climbed last week but remained well below the mid-June peak.  More details.

► COVID-19 RELIEF ENDING

Expiring government support.  More details.

► PHILLIPS CURVE

The Phillips Curve has been distorted because the outsize job losses among low-wage employees resulted in higher average pay for remaining workers.  More on Phillips Curve.

► TRENDS

Have Americans cut back on credit card debt?

► PANDEMIC PEAKING

More Details at Pantheon Macroeconomics.

► UNITED KINGDOM

Pound is back to pre-crisis levels.  Could this be due to the weak dollar?

► EUROZONE

► ENERGY

Brent crude 20 day realized volatility is at the lowest level of the year.

► STOCK MARKET