The Economic Indicator Handbook. Richard Yamarone

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      Richard Yamarone

      The Economic Indicator Handbook

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      THE ECONOMIC INDICATOR HANDBOOK

      How to Evaluate Economic Trends to Maximize Profits and Minimize Losses

      Richard Yamarone

      Copyright © 2017 by Richard Yamarone. All rights reserved.

      Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

      Published simultaneously in Canada.

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      Library of Congress Cataloging-in-Publication Data is available:

      ISBN 9781118204665 (Hardcover)

      ISBN 9781118228470 (ePDF)

      ISBN 9781118233122 (ePub)

      Cover Design: Wiley

      Cover Images: Blue Whispy Flow © colecom/Getty Images, Inc.;

      GDP data chart, Reprinted with permission of Bloomberg LP

Dedicated to the loving memory of Milton and Nash Yamarone

      Acknowledgments

      This project is overwhelmingly related to economics as seen from the Bloomberg terminal. So it is only natural that I express my gratitude to the countless – and I do mean countless – Bloomberg employees that have provided invaluable help over the last 20-plus years that I have been associated with Bloomberg either as a client (since 1992) or as an employee (October 26, 2009). There's a real reason why Bloomberg, LP is so successful, and it is undoubtedly due to its employees. I've never seen such dedication to a company and to the client in my more than 30 years on the Street. If you know anyone that has ever worked at Bloomberg, you know exactly what I am talking about.

      I have the great fortune to work with some of the brightest and hardest-working people in all of business. At any hour of the day or evening, weekend, or holiday, I feel I could reach out with an issue and get an immediate response…that's an incredible team to draw upon. I call each of them my friend as well as co-worker.

      My thanks are extended first to the Bloomberg Intelligence Economics team. At the top is Mike McDonough, the global director of economics who has set up this solid powerhouse and is responsible for making it the preeminent economic research group on all of Wall Street that it is today. He is a great leader. Carl Riccadonna is the sharpest economist I have ever worked with and is the best “big picture” economics writer on the Street today; I learn from him every day. Yelena Shulyatyeva has a gifted ability to find the most meaningful detail in economic indicators, draw intelligent inferences, and place them in a macro context. She does this masterfully, despite having the tremendous misfortune of having to sit next to me for over 10 hours a day. Bless you.

      Many thanks go to the rest of the team, including Richard Marquit, Felipe Hernandez, Marco Maciel, Jaime Murray, Tom Orlik, David Powell, Niraj Shaw, Mark Bohlund, Dan Hanson, Maxime Sbaihi, Tamara Henderson, Fielding Chen, Yuki Masujima, and Tricia Franceschina. Special thanks to James Callan, the brilliant editor that takes my scribblings and polishes them into coherent commentary.

      Bloomberg Intelligence is an incredible research group, undoubtedly the best on the Street, and as helpful as they are insightful. Imagine what a joy it is (especially as an economist) to be able to draw upon the knowledge from industry legends – yeah, legends – like Poonam Goyal, Ken Hoffman, Kevin Tynan, Kit Konolige, Paul Sweeney, Josh Zaret, Lee Klaskow, John Butler, Karen Ulbelhart, and Jason Miner. Seriously, who couldn't form an accurate economic perspective with so many talented professionals feeding the information channel with top-tier insights and analyses? Additional thanks are extended to Richard Salditt, Dragos Aoloie, and Mike McGlone.

      There are countless employees around the globe that I work with only on occasion, but have helped me beyond measure. This includes my personal friend, Janice Slusarz; I couldn't ask for a better friend. In Multimedia there is another dear friend, Julie Hyman – I am very lucky to call her a friend. In addition, my many thanks are extended to Matt Miller, David Westin, Ted Fine, Pimm Fox, Mike McKee, Tom Keene, Kathleen Hays, Vonnie Quinn, Taylor Riggs, David Sucherman, Paul Brennan, Sam Lenga, Carol Massar, John Tucker, Cory Johnson, Emily Haas-Godsil, Paris Wald, Vielka Todd, Richard Trueman, Charlie Pellet, Rachel Wehrspann, Erik Schatzker, Joe Weisenthal, Courtney Donohoe, Lisa Abramowicz, Scarlet Fu, Mark Crumpton, and Bob Moon.

      I could fill an entire book with the hundreds of salespeople that I have worked with over the last seven years, who have taught me so much about the importance of the client during the close to a thousand presentations, speeches, and one-on-one meetings I have had with our clients and prospects. My hat is tipped to Matt Nolfo, the King of university sales. No one compares to you and your seemingly never-ending ability to let people know the power of the terminal. Tom Rogers, Kevin G. Murphy, Annie Sears, Stephen Smith, Ariel Pariser, Thomas Pennella, Alex Shomber, Logan McClennan, Wayne Pasternack, Mary Briatico, Caroline Bauer, Craig Kesten, and Chris Piekarski.

      My gratitude is also extended to other colleagues that I indirectly work with,