Europe /US News update

Goldilocks Economic Data Dump Attempts To Resurrect Flawed US Decoupling Thesis

So with Europe threatening to bury the world again, here is today's "decoupling" attempt to pull the world out by the bootstraps courtesy of the US with what is naturally better than expected data, just like China last week.

• US Empire Manufatruing (Nov) M/M 0.61 vs. Exp. -2.00 (Prev. -8.48), above zero for the first time since May; Prices Paid Index lowest since Novembever 09 at 18.29 down from +22.47 in Oct  - source
• US Advance Retail Sales (Oct) M/M 0.5% vs. Exp. 0.3% (Prev. 1.1%), ex Autos +0.6% - source
• US PPI ex-Food & Energy (Oct) M/M 0.0% vs. Exp. 0.1% (Prev. 0.2%) - source
• US PPI (Oct) M/M -0.3% vs. Exp. -0.1% (Prev. 0.8%)  - source

Europe entering recession, China stagflating, and the US soaring. Rrrrright. And now, back to the European meltdown.