We get quite a bit of data next week despite the U.S. Thanksgiving holiday. New Home Sales on Tuesday will likely add another piece to the housing data puzzle and we also look forward to seeing the first set of revisions to Q3 GDP on Wednesday. Most series still reflect data or conditions prior to the election, so the Chicago Business Barometer might have some of our first insights on how the election has altered sentiment.

We got two regional PMI surveys last week: The Empire Fed Index (arguably the worst data set of regional PMIs) and the Philly Fed Index (best regional PMI). The latter was interesting because it declined AND failed to meet expectations, BUT the outlook component exploded higher. In essence, companies in the Philly Fed district still see current conditions as challenging but have gotten increasingly hopeful that better days lie ahead. Time will tell of course, but for now we don't have much to go on. Still, a divergence between current conditions and the outlook is rare for a series like this. That said, it's not like we have elections very often, so they are bound to create unusual data patterns from time to time.

The Macro Week Ahead

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The Macro Week In Review

Macro Job Board

Global Market Strategist @ New York Life Investments (New York)

In this role you will develop capital markets perspectives, portfolio strategy, and trade ideas through original research and apply macroeconomic themes to alternative and private markets conditions. 

Macro Strategist @ Bloomberg (New York)

You will turn geopolitics, monetary policy, and economics into actionable market insights. The position requires a keen grasp of financial markets and their interconnections, the ability to instantly recognize market-moving news, the analytical skills to identify underlying dynamics, and experience in writing cleanly under pressure.

VP, Macro Hedge Fund Due-Diligence @ JP Morgan (New York)

Responsible for applying quantitative and qualitative skills, experience, and informed judgment to enhance the performance of client hedge fund portfolios. Will work within the manager research group on all aspects of manager sourcing, due diligence, and analysis of third party relative value and macro hedge funds.

What We Read This Weekend

Fiscal, Macroeconomic, And Price Estimates Of Tariffs
Turkey Costs Less This Thanksgiving As Prices Fall For Second Straight Year
The Delusions Behind A Bitcoin Strategic Reserve

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