Never a boring day

Pete Rose should be in the Hall of Fame, even with his rule breaking on bets as he paid his reputational price years ago, and it should have happened while he was alive. He's the most consequential hitter in the history of the game. 

With about a $3.8-$4.5b daily cost of the strike according to a JP Morgan estimate I've seen, the big question is how much of this is lost forever in terms of lost sales of the stuff coming in and out of the 14 ports on strike or can it be recaptured, however much delayed. Of course right before the holidays, every lost day can move closer to being a lost or heavily discounted sale. Lori Ann LaRocco at CNBC in a piece yesterday had a good stat that "On average, it takes one week to clear out one day of a port closure." And, "As much as 43% to 49% of total containerized goods entering the US are processed through ports on the East Coast and Gulf Coast." https://www.nbcnews.com/business/business-news/ports-strike-imminent-east-coast-gulf-truckers-rails-are-scrambling-rcna173233

After yesterday's Jay Powell induced lift in Treasury yields, they are falling back down, following a drop in European rates and maybe in response to the strikes and the worst possible time to have them in terms of clogging up economic activity across many supply chains. If something is going to put a bottom though in goods price inflation, it is this strike being long lasting and Chinese officials successfully putting a floor under their economy.