Favorites July 15th 2023
I actually didn’t find much interesting stuff Friday, so I didn’t send out an email. I did publish a ‘Rejects’ email though. So you can check those out and subscribe to the rejects if you are interested.
I had definitely heard in the sharp uptick in construction of factories, but offices staying stable is very surprising. Maybe we're still looking at pipeline projects from before the pandemic hit office values? Worth noting: lead times on commercial three-phase transformers is currently 52 to 54 months! The pipeline delay could be very long!
I wonder if US firms have any obvious step change points based on firm size, we also have regulations that kick in based on employee count.
The short summary of these graphs is that recently, liberals are more depressed than conservatives. Some might argue that it's because conservatives have had more policy successes recently, but 1) I'm not sure how true that is and 2) you don't see a bunch of depressed conservatives during periods where conservatives were clearly losing more policy battles.
Threads
• Joseph Politano points out that the 'New Tenant Repeat Rent Index', a very good way to get 'live' inflation data, indicates that inflation is continuing to slow.