TRADE APR 2025
The tariff front-running spike hiding in ADP data
March 2025 saw an unusual surge in machine parts imports through Arizona ports. Here's what the commodity flow data actually shows — and why it matters for future tariff analysis.
6 MIN READ →
MIGRATION MAR 2025
Who's moving to Arizona — and who's leaving
Breaking down ACS microdata by age and education to understand the real shape of Sun Belt migration. The headline numbers obscure a more complicated story about who's actually arriving.
8 MIN READ →
ENERGY FEB 2025
Why Arizona gas prices don't move like the rest of the country
Regional refinery constraints, pipeline geography, and the quirks that make Southwest fuel markets behave differently — even when national crude prices swing hard.
5 MIN READ →
MACRO JAN 2025
The Fed's soft landing looked different from the labor market data
Revisiting the 2024 rate cycle through JOLTS and unemployment flows — what the headline rate obscured and what the job openings ratio actually told us about labor market tightness.
7 MIN READ →
TRADE DEC 2024
Nogales in the data: Arizona's most important port of entry
A deep dive into what actually crosses the Nogales port each month — commodity mix, seasonality, and how it compares to the other AZ border crossings in the Census trade data.
9 MIN READ →
MACRO NOV 2024
Core services inflation is the one number that still hasn't cooperated
Housing and goods have cooled. Energy is deflationary. But core services ex-housing keeps running hot — here's the component breakdown and what's driving persistence.
6 MIN READ →
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