These are abysmal numbers, suggesting a deeply pessimistic consumer in the first half of September.

It is going to make economists slightly revise down first-quarter GDP, which they already did with the weaker consumer spending number.

There is a good chance in the second half of next year, we see growth slow down fairly dramatically.

Today, the first auction of 30-year Treasury bonds in (almost) five years is expected to go well.

This might be too much like half-forgotten schoolwork for comfort and, as in all first episodes, there was a lot of indigestible introduction.

The trade deficit widened to a record in September, as expected. But it wasn't the oil story we were all looking for. Instead, it boils down to Boeing and Airbus, with the European firm holding the cards this time around,