Maersk laying off 10,000 workers. Months of weak international freight demand finally leads them to throw the towel. There is a large time lag from when demand fall to when layoffs begin. Firms try everything else before reducing the full-time staff. Another reminder that unemployment is a lagging indicator.

INFLATION ON ITS WAY DOWN despite the H4L narrative:

CPI: 0% MOM, 3.2% YOY (down from 3.7%)

-Smallest MOM in over a year
-Gas prices are down ($3.35 nat'l avg now)
- Shelter cooling off

CORE CPI: 0.2% MOM 4% YOY

robust down trend