MacroEdge 7/21 Weekly Report "Fall of CCV Ahead, National Ice Cream Day, Gold Update"

In this weekly report Don, Six, and John tackle the latest pressing issues of the week with coverage of the labor market, current MacroEdge Vision update, a discussion on gold, & more.

The Fall of CCV (@DonMiami3, MacroEdge Chief Economist)

Good Sunday evening all, 

Hope you were all able to catch the latest ‘Redeye’ on Friday and a fantastic edition of MacroEdge Radio (#15) on Friday afternoon that was fantastic. That timeslot will be our new time slot going forward - at 4 pm EST - which should be able to accommodate many more listeners versus our former 9 pm EST time that many commented was too late for listening on Friday evening. 

We’ve had a lot of political news over the last two weeks - now with the current President announcing he will not seek re-election in the coming presidential election. While there will be a ton of news and hype around this - the markets themselves have been in an autopilot mode so I hesitate to weight that much importance to this event. The most important event will be the 18 months following the Federal Reserve’s signal for lower interest rate - as well as any fiscal policy adjustments we see to match this event. 

Today’s shorter Sunday Ozone report will be focused on ‘The Fall of Claims, Cuts, and Volatility’. We’re in a general data lull now until the Fed starts gearing us for likely rate cuts in September so the emphasis continues to be: employment, employment, and employment. With real estate being the largest cyclical sector likely to drive future employment weakness (particularly in multifamily) - this data matters substantially for the economy at large. The President is certainly dropping out of the race at an interesting time in the current employment cycle…?