High-Freq Data and DOGE Monitor - 2025-10-15

We don't have jobless claims data now for three weeks. But all our other high-frequency data comes from non-government sources. So we can report that everything looks great. In the wake of two alarming default events, no stress is showing up in the banking system. And our "Truflation" real-time estimate of CPI for October, so far, is in downright deflation -- headline very much so, core slightly.