Succinct Summations for the week ending November 15th, 2019

Positives:

1. Markets make new all time highs — the most bullish thing they can do!
2. CPI rose 0.4% m/o/m, above the expected increase of 0.3
3. Home refinance apps rose 13.0% w/o/w, above the previous increase of 2.0%.
4. Home mortgage apps rose 5.0% w/o/w, above the previous decrease of 3.0%.
5. Retail sales rose 0.3% m/o/m, above the expected increase of 0.2%.
6. PPI-FD rose 0.4% m/o/m, above the expected increase of 0.3%.

Negatives:

1. Trade uncertainty continues; damning testimony weakens POTUS further.
2. Industrial production fell 0.8% m/o/m, below the expected decrease of 0.4%.
3. Jobless claims rose by 14k w/o/w from 211k to 225k.
4. Business inventories fell 0.2%, below the expected increase of 0.1%.
5. Same store sales rose 5.0% w/o/w, decelerating from the previous increase of 5.5%.
6. Import prices fell 0.5% m/o/m and export prices fell 0.1% m/o/m, both below expectations.

Thanks, Matt