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IMD predicts fresh cyclonic circulation in next 48 hours; see latest forecast

A fresh cyclonic circulation is likely to emerge over the north Andaman Sea during the next 48 hours, the India Meteorological Department (IMD) predicted on Wednesday. In its latest update, the central weather forecasting agency said that a low-pressure area has formed over south coastal Andhra Pradesh and neighbourhood.  “Low-Pressure Area over Westcentral and adjoining […]

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Consumer Sentiment Remained Weak in November

The final November results from the University of Michigan Surveys of Consumers show overall consumer sentiment declined for the month, holding near historically low levels (see first chart). The composite consumer sentiment decreased to 56.8 in November, down from 59.9 in October. The index hit a record low of 50.0 in June down from 101.0 […]

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Weekly Initial Claims Hit a Fourteen-Week High

Initial claims for regular state unemployment insurance jumped by 17,000 for the week ending November 19th, coming in at 240,000. The previous week’s 223,000 was revised up from the initial estimate of 222,000. The latest result is the highest level since August 13th (see first chart). The four-week average of weekly initial claims rose to […]

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How the hell did Jane Street alumni end up creating FTX?

Fair play. Bloomberg’s Annie Massa, Hannah Miller and Muyao Shen have just published a piece exploring a subject that had been vexing us ever since FTX blew up: how on earth could a bunch of former Jane Street traders fuck up so spectacularly? Jane Street is probably not as widely known as it should be […]

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New Home Sales Rose in October, But the Outlook Remains Cautious

Sales of new single-family homes rose in October, increasing 7.5 percent to 632,000 at a seasonally-adjusted annual rate from a 588,000 pace in September. The October gain was the third increase in the last eleven months, leaving sales down 5.8 percent from a year ago and down 39.0 percent from the August 2020 post-recession peak. […]