Sitemap - 2025 - Macro4Micro
US-Canada Trade: 35% Tariff Warning
India Tariffs: Changing the Music?
Taiwan: Tariffs and “What is an ally?”
South Korea Tariffs: Just Don’t Hit Back?
Japan: Ally Attack? Risk Free?
Footnotes & Flashbacks: Credit Markets 7-7-25
Footnotes & Flashbacks: State of Yields 7-6-25
Footnotes & Flashbacks: Asset Returns 7-6-25
Mini Market Lookback: Bracing for Tariff Impact
US-Vietnam Trade: History has its Moments
Payrolls June 2025: Into the Weeds
Employment June 2025: A State and Local World
Asset Return Quilts for 2H24/1H25
JOLTS May 2025: Job Openings vs. Filling Openings
Midyear Excess Returns: Too little or just not losing?
Footnotes & Flashbacks: Credit Markets 6-30-25
Footnotes & Flashbacks: State of Yields 6-29-2025
Footnotes & Flashbacks: Asset Returns 6-29-25
Mini Market Lookback: Eye of the Beholder
PCE May 2025: Personal Income and Outlays
Durable Goods May25: Aircraft Surge, Core Orders Modest Positive
1Q25 GDP: Final Estimate, Consumer Fade
New Home Sales May 2025: Slip and Slide
KB Home 2Q25: Negative Industry Trends Keep Coming
Existing Homes Sales May 2025: Sequential Stronger, YoY Weaker
Footnotes & Flashbacks: Credit Markets 6-23-2025
Footnotes & Flashbacks: State of Yields 6-22-25
Footnotes & Flashbacks: Asset Returns 6-22-2025
Mini Market Lookback: FOMC Spoke Clearly, Iran and Trump up next 6-21-25
FOMC Day: PCE Outlook Negative, GDP Expectations Grim
Home Starts May 2025: The Fade Continues
Retail Sales May 25: Demand Sugar Crash
May 2025 Industrial Production: Motor Vehicle Cushion?
Footnotes & Flashbacks: Credit Markets 6-16-25
Footnotes & Flashbacks: State of Yields 6-15-25
Footnotes & Flashbacks: Asset Returns 6-15-25
Mini Market Lookback: Deus Vult or Deus Nobis Auxilium
Credit Snapshot: Hertz Global Holdings (HTZ)
CPI May 2025: The Slow Tariff Policy Grind
Footnotes & Flashbacks: Credit Markets 6-9-25
Footnotes & Flashbacks: State of Yields 6-8-25
Footnotes & Flashbacks: Asset Returns 6-8-25
Mini Market Lookback: Clash of the Titans 6-7-25
Payrolls May 2025: Into the Weeds
Employment May 2025: We’re Not There Yet
US Trade in Goods April 2025: Imports Be Damned
Past-Prologue Perspective for 2025: Memory Lane 2018
JOLTS April 2025: Slow Burn or Steady State?
Tariffs: Testing Trade Partner Mettle
Footnotes & Flashbacks: Credit Markets 6-2-25
Footnotes & Flashbacks: State of Yields 6-1-25
Footnotes & Flashbacks: Asset Returns 6-1-25
Mini Market Lookback: Out of Tacos, Tariff Man Returns
Credit Snapshot: Meritage Homes (MTH)
PCE April 2025: Personal Income and Outlays
1Q25 GDP 2nd Estimate: Tariff and Courthouse Waiting Game
Homebuilder Rankings: Volumes, Market Caps, ASPs
Footnotes & Flashbacks: Credit Markets 5-27-25
Durable Goods Apr25: Hitting an Air Pocket
Footnotes & Flashbacks: State of Yields 5-25-25
Footnotes & Flashbacks: Asset Returns 5-25-25
Mini Market Lookback: Tariff Excess N+1
New Home Sales April 2025: Waiting Game Does Not Help
Existing Home Sales April 2025: Soft but Steady
Credit Snapshot: Lithia Motors (LAD)
Footnotes & Flashbacks: Credit Markets 5-19-25
Home Starts April 2025: Metrics Show Wear and Tear
Footnotes & Flashbacks: State of Yields 5-18-25
Footnotes & Flashbacks: Asset Returns 5-18-25
Mini Market Lookback: Tricky Ingredients, Shifting Moods
Industrial Production April 2025: CapUte Mixed but Time Will Tell
Retail Sales April 25: Shopping Spree Hangover
CPI April 2025: 1st Inning for Tariffs and CPI
Credit Spreads: The Bounce is Back
Footnotes & Flashbacks: Credit Markets 5-12-25
Footnotes & Flashbacks: State of Yields 5-11-25
Footnotes & Flashbacks: Asset Returns 5-11-25
Mini Market Lookback: When in Doubt, Get Forcefully Ambiguous
US-UK Trade: Small Progress, Big Extrapolation
Credit Snapshot: PulteGroup (PHM)
Tariffs: A Painful Bessent Moment on “Buyer Pays”
Trade: Uphill Battle for Facts and Concepts
Credit Snapshot: Toll Brothers
Footnotes & Flashbacks: Credit Markets 5-5-25
Footnotes & Flashbacks: State of Yields 5-4-25
Footnotes & Flashbacks: Asset Returns 5-4-25
Mini Market Lookback: Inflated Worry or Slow Train Wreck?
Payrolls April 2025: Into the Weeds
Payroll April 2025: Moods and Time Horizons
Construction: Singing the Blues or Tuning Up for Reshoring?
Employment Cost Index 1Q25: Labor is Not the Main Worry
1Q25 GDP: Into the Investment Weeds
PCE March 2025: Personal Income and Outlays
1Q25 GDP Advance Estimate: Roll Your Own Distortions
JOLTS Mar 2025: No News is Good News
Tariffs: Amazon and Canada Add to the Drama
Credit Snapshot: D.R. Horton (DHI)
Footnotes & Flashbacks: Credit Markets 4-28-25
Footnotes & Flashbacks: State of Yields 4-27-25
Footnotes & Flashbacks: Asset Returns 4-27-25
Mini Market Lookback: Earnings Season Painkiller
Existing Home Sales March 2025: Inventory and Prices Higher, Sales Lower
Durable Goods March 2025: Boeing Masking Some Mixed Results
Equipment Rentals: Pocket of Optimism?
Credit Snapshot: Herc Holdings (HRI)
New Home Sales March 2025: A Good News Sighting?
Footnotes & Flashbacks: Credit Markets 4-21-25
Footnotes & Flashbacks: State of Yields 4-20-25
Footnotes & Flashbacks: Asset Returns 4-20-25
Mini Market Lookback: The Powell Factor
Ships, Fees, Freight & Logistics Pain: More Inflation?
Home Starts Mar 2025: Weak Single Family Numbers
Credit Snapshot: Service Corp International (SCI)
Retail Sales Mar25: Last Hurrah?
Industrial Production Mar 2025: Capacity Utilization, Pregame
Credit Snapshot: Iron Mountain (IRM)
Footnotes & Flashbacks: Credit Markets 4-13-25
Footnotes & Flashbacks: State of Yields 4-13-25
Footnotes & Flashbacks: Asset Returns 4-12-25
Mini Market Lookback: Trade’s Big Bang
Tariffs, Pauses, and Piling On: Helter Skelter
CPI March 2025: Fodder for Spin
Credit Snapshot: Avis Budget Group (CAR)
Tariffs: Some Asian Bystanders Hit in the Crossfire
Footnotes & Flashbacks: Credit Markets 4-6-25
Footnotes & Flashbacks: State of Yields 4-6-25
Footnotes & Flashbacks: Asset Returns 4-6-25
Mini Market Lookback: A Week for the History Books 4-5-25
Credit Snapshot: AutoNation (AN)
Payrolls Mar 2025: Into the Weeds
Payroll March 2025: Last Call for Good News?
Tariffs: Diminished Capacity…for Trade Volume that is…
Reciprocal Tariff Math: Hocus Pocus
Reciprocal Tariffs: Weird Science Blows up the Lab
Credit Snapshot: Taylor Morrison Home Corp (TMHC)
JOLTS Feb 2025: The Test Starts in 2Q25
Tariffs: Stop Hey What’s That Sound?
Credit Snapshot: United Rentals (URI)
Tariffs are like a Box of Chocolates
Footnotes & Flashbacks: Credit Markets 3-31-25
Footnotes & Flashbacks: State of Yields 3-30-25
Footnotes & Flashbacks: Asset Returns 3-30-25
Mini Market Lookback: The Next Trade Battle Fast Approaches
PCE Feb 2025: Inflation, Income, Outlays
Auto Tariffs: Questions to Ponder
Durable Goods February 2025: Preventive Medicine?
New Homes Sales Feb 2025: Consumer Mood Meets Policy Roulette
KB Home 1Q25: The Consumer Theme Piles On
Footnotes & Flashbacks: Credit Markets 3-24-25
Lennar: Cash Flow and Balance Sheet > Gross Margins
Footnotes & Flashbacks: State of Yields 3-23-25
Footnotes & Flashbacks: Asset Returns 3-23-25
Mini Market Lookback: Fed Gut Check, Tariff Reflux
Existing Homes Sales Feb 2025: Limping into Spring
Fed Action: Very Little Good News for Macro
Industrial Production Feb 2025: Capacity Utilization
Housing Starts Feb 2025: Solid Sequentially, Slightly Soft YoY
Retail Sales Feb 2025: Before the Storm
Footnotes & Flashbacks: Credit Markets 3-17-25
Footnotes & Flashbacks: State of Yields 3-16-25
Footnotes & Flashbacks: Asset Returns 3-16-25
Mini Market Lookback: Self-Inflicted Vol
Tariffs: Strange Week, Tactics Not the Point
Credit Spreads: Pain Arrives, Risk Repricing
Trade: Betty Ford Tariff Wing Open for Business
JOLTS Jan 2025: Old News, New Risks in the Market
Auto Suppliers: Trade Groups have a View, Does Washington Even Ask?
Footnotes & Flashbacks: Credit Markets 3-10-25
Footnotes & Flashbacks: State of Yields 3-9-25
Footnotes & Flashbacks: Asset Returns 3-9-25
Mini Market Lookback: Tariffs Dominate, Geopolitics Agitate
Payrolls Feb 2025: Into the Weeds
Employment Feb 2025: Circling Pattern, Lower Altitude
Trump's “Greatest Economy in History”: Not Even Close
Asset Returns and UST Update: Pain Matters
Footnotes & Flashbacks: Credit Markets 3-3-25
Footnotes & Flashbacks: Asset Returns 3-2-25
Footnotes & Flashbacks: State of Yields 3-2-25
Mini Market Lookback: Collision Courses ‘R’ Us
PCE Jan 2025: Prices in Check, Income and Outlays Diverge
Durable Goods Jan25: Waiting Game
GDP 4Q24 Second Estimate: PCE Inflation the Main Event
New Homes Sales Jan 2024: Homebuilders Feeling Cyclical Signals?
Auto Tariffs: Japan, South Korea, and Germany Exposure
Footnotes & Flashbacks: Credit Markets 2-24-25
Footnotes & Flashbacks: State of Yields 2-23-25
Footnotes & Flashbacks: Asset Returns 2-23-25
Mini Market Lookback: Tariffs + Geopolitics + Human Nature = Risk
Existing Home Sales Jan 2025: Prices High, Volumes Soft, Inventory Up
AutoNation: Retail Resilient, Captive Finance Growth
Toll Brothers 1Q25: Performing with a Net
Housing Starts Jan 2025: Getting Eerie Out There
Herc Rentals: Swinging a Big Bat
Footnotes & Flashbacks: Credit Markets 2-17-25
UST Yields: Sept 2024 UST in Historical Context
Footnotes & Flashbacks: State of Yields 2-16-25
Footnotes & Flashbacks: Asset Returns 2-16-25
Mini Market Lookback: Headline Frenzy, Sloppy Details
Iron Mountain 4Q24: Performance Bar Gets Raised
Retail Sales Jan 2025: Warning Sign or Holiday Hangover?
Industrial Production Jan 2025: Capacity Utilization
Reciprocal Tariffs: Weird Science
CPI Jan 2025: Getting Frothy Out There
US-EU Trade: The Final Import/Export Mix 2024
Footnotes & Flashbacks: Credit Markets 2-10-25
Aluminum and Steel Tariffs: The Target is Canada
US-Mexico Trade: Import/Export Mix for 2024
Footnotes & Flashbacks: State of Yields 2-9-25
Footnotes & Flashbacks: Asset Returns 2-9-25
Mini Market Lookback: Simply Resistible!
Payroll Jan 2025: Into the Occupational Weeds
Payroll Jan 2025: Staying the Course, Supports FOMC Hold
Trade Exposure: US-Canada Import/Export Mix 2024
US Trade with the World: Import and Export Mix
The Trade Picture: Facts to Respect, Topics to Ponder
JOLTS Dec 2024: Before the Tariff JOLT Strikes
Footnotes & Flashbacks: Credit Markets 2-3-25
Footnotes & Flashbacks: State of Yields 2-2-25
Footnotes & Flashbacks: Asset Returns 2-2-25
Tariffs: Questions to Ponder, Part 1
United Rentals 4Q24: Strong Numbers Set the Table
Mini Market Lookback: Surreal Week, AI Worries about “A”
Employment Cost Index 4Q24: Labor Crossroad Dead Ahead
PCE: Inflation, Personal Income & Outlays
4Q24 GDP: Into the Investment Weeds
4Q24 GDP: Inventory Liquidation Rules
Credit Crib Note: Lennar Corp (LEN)
D.R. Horton: #1 Homebuilder as a Sector Proxy
Durable Goods Dec 2024: Respectable ex-Transport Numbers
New Home Sales Dec 2024: Decent Finish, Strange Year
Footnotes & Flashbacks: Credit Markets 1-27-25
Footnotes & Flashbacks: State of Yields 1-26-25
Footnotes & Flashbacks: Asset Returns 1-26-25
Mini Market Lookback: Policy Blitz Formation
Existing Home Sales Dec 2024: Another “Worst Since” Milestone
Footnotes & Flashbacks: Credit Markets 1-20-25
Top 10 Fun Facts on Past Presidents and their Economies
Footnotes & Flashbacks: State of Yields 1-19-25
Footnotes & Flashbacks: Asset Returns 1-19-25
Mini Market Lookback: The Upside of Volatility
Industrial Production Dec 2024: Capacity Utilization
Housing Starts Dec 2024: Good Numbers, Multifamily Ricochet
Retail Sales Dec 2024: A Steady Finish
CPI Dec 2024: Mixed = Relief These Days
KB Home 4Q24: Strong Finish Despite Mortgage Rates
United Rentals: Bigger Meal, Same Recipe
Footnotes & Flashback: Credit Markets 1-13-25
Footnotes & Flashbacks: State of Yields 1-12-25
Footnotes & Flashbacks: Asset Returns 1-12-25
Mini Market Lookback: Sloppy Start
Payroll Dec 2024: Back to Good is Bad?
US-Canada: Tariffs Now More than a Negotiating Tactic
Payroll % Additions: Carter vs. Trump vs. Biden…just for fun
Annual GDP Growth: Jimmy Carter v. Trump v. Biden…just for fun
Footnotes & Flashbacks: State of Yields 1-3-25
Mini Market Lookback: Mixed Start, Deep Breaths
Footnotes & Flashbacks: Credit Markets 2024
HY and IG Returns since 1997 Final Score for 2024
Annual and Monthly Asset Return Quilt 2024 Final Score