Archive - Macro4Micro

New Home Sales May 2026: Weak Volumes, Stable(ish) Prices

While homebuilder equities had a strong week, new home volume remains weak and builder margins squeezed.

18 hrs ago • Glenn Reynolds, CFA

GDP 1Q26 Final: PCE Growth Plunge

The downward revision of imports boosts headline GDP to +2.1% from +1.6% but the PCE growth was revised to +0.5% from +1.4%.

Jun 25 • Glenn Reynolds, CFA

Trade Deficits: The Moving Parts and Macro Goals Matter Most

The commentary on the material YTD decline in trade deficits often misses the point –usually by design.

Jun 24 • Glenn Reynolds, CFA

Market Commentary: Asset Returns 6-21-26

The past week saw the Iran deal dominate, the FOMC surprise, and the Italians rage as the USMCA awaits the next round of tension.

Jun 22 • Glenn Reynolds, CFA

The FOMC Dance: Will Warsh and Trump Find a Rhythm?

The FOMC meeting and output rattled the UST curve and roiled equities.

Jun 18 • Glenn Reynolds, CFA

Housing Starts May 2026: Weaker for both Single Family and Multifamily

Spring home starts are soft with single family down MoM and YoY and multifamily posting material declines in May.

Jun 17 • Glenn Reynolds, CFA

Industrial Production May 2026: Steady, Balanced Utilization Levels

The slight uptick in Industrial Production and Total Industry Capacity Utilization saw both at the highest levels in calendar 2026.

Jun 15 • Glenn Reynolds, CFA

Market Commentary: Asset Returns 6-14-26

We update running timeline asset returns as a relief rally on Iran this week meets a mixed tech sector stock performance.

Jun 15 • Glenn Reynolds, CFA

Geopolitical risk: Trump's Nuclear Saber Rattling?

Trump's "either/or" ultimatums are getting old, but this one includes some veiled nuke imagery. This is not the first time.

Jun 14 • Glenn Reynolds, CFA

Existing Home Sales May 2026: Slow Rise Despite Rates

A mild recovery in existing home sales was good news considering the latest inflation headwinds in CPI and PPI.

Jun 12 • Glenn Reynolds, CFA

Producer Price Index May 2026: Too Many “Since 2022” References

The PPI bad news continues with Final Demand at +6.5%, the highest since Nov 2022 at +7.4%.

Jun 11 • Glenn Reynolds, CFA

CPI May 2026: The 4% Rubicon

The market now faces CPI above the long-term median and negative real fed funds to go with negative real wage growth.

Jun 10 • Glenn Reynolds, CFA

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