WHAT WE DO:
- Analyze all manner of consumer companies, including their historical volume and price trends
- Analyze bank lending (and deposit) data and how it affects the aforementioned consumer companies
- Analyze Fed/central bank data given their importance to the banking system and economy
- Analyze broker-dealer data given their importance as intermediaries in the Treasury market
June 10, 2026
Containerboard Producers Warning About Rapidly Rising Costs
I wrote two days ago (link) about the potential adverse impact of rising freight and old corrugated container (OCC) costs on the publicly traded containerboard producers in 2Q. This morning, the third-largest North American containerboard…
June 10, 2026
Real Average Weekly Earnings Down for the Third Straight Month
The Bureau of Labor Statistics (BLS) reported that the U.S. consumer price index (CPI) rose by a seasonally adjusted 0.5% in May (4.2% YoY) as inflation continues to surge following the Iran war. As a…
June 8, 2026
Box Industry Update: Continued Cost Inflation and Lackluster Demand
I recently hosted a call with several U.S. boxmakers. Containerboard and box industry conditions have been problematic following the pandemic demand bubble: U.S. box shipments are back down to 2015 levels (link) and inflationary pressures…
June 3, 2026
Fed’s Beige Book Survey Points to Broadening Income Pressures
The Federal Reserve published its Beige Book survey this afternoon (link), which comes out eight times per year. The Fed noted increasingly bifurcated consumer spending across income groups amid “affordability pressures.” “Higher-income households remained resilient…
MEDIA APPEARANCES
From Walmart to Wall Street: Who is Really Winning in This Economy?
5/17/26
By Miriam Gottfried & Telis Demos
The Iran war is hitting packaging supply chains. Are the impacts temporary?
3/19/26
By Katie Pyzyk
Trump’s tariffs are driving a wedge through the US economy, further separating the haves from the have-nots
9/26/25
By Alicia Wallace
Cardboard-Box Demand Is Slumping. Why That’s Bad News for the Economy.
9/21/25
By Ryan Dezember
Adam Josephson started Sakonnet Research after the launch of his Substack titled “As the Consumer Turns,” which focuses on the consumer spending economy and on banks.
Previously, he worked in sell-side equity research at KeyBanc Capital Markets for over 15 years covering paper & packaging, precious metals, packaged food, and technology services companies. His Substack research has been cited in The Financial Times, and while a sell-side analyst he was quoted in such publications as The Wall Street Journal.
He’s a CFA charterholder and studied at Brown University and the University of North Carolina at Chapel Hill.
SERVICES
Sakonnet Research provides the following services:
- Customized data on sales/volume trends for retailers, CPG companies, restaurant chains, packaging companies, etc.
- Customized data on banks, broker-dealers, primary dealers’ holdings and transactions, central banks, etc.
- Consulting on request
Please contact Adam for consulting requests.
