Treasury yields are two to three basis points higher this morning following the release of PPI and Initial Jobless Claims data. PPI came in lower than expected at 0% vs the expected 0.3% m/m increase. The flat change in producer prices combined with yesterday’s lower CPI reading has helped equity futures claw back some earlier declines.
Initial jobless claims came in lower than expected at 220,000 vs. the forecast of 225,000. Last week’s reading of 220,000 was little changed from the week prior, at a revised level of 222,000, showing a labor market that remains healthy.
Hafizan Hamzah Senior Director, Investment Management Group
Date Event Surv(M) Actual Prior 3/13/2025 PPI Final Demand MoM 0.30% 0.00% 0.40% 3/13/2025 PPI Ex Food and Energy MoM 0.30% -0.10% 0.30% 3/13/2025 PPI Ex Food, Energy, Trade MoM 0.30% 0.20% 0.30% 3/13/2025 PPI Final Demand YoY 3.30% 3.20% 3.50% 3/13/2025 PPI Ex Food and Energy YoY 3.50% 3.40% 3.60% 3/13/2025 PPI Ex Food, Energy, Trade YoY 3.40% 3.30% 3.40% 3/13/2025 Initial Jobless Claims 225k 220k 221k 3/13/2025 Continuing Claims 1888k 1870k 1897k 3/13/2025 Household Change in Net Worth — — $4766b 3/14/2025 U. of Mich. Sentiment 63 — 64.7 3/14/2025 U. of Mich. Current Conditions 64.8 — 65.7 3/14/2025 U. of Mich. Expectations 63 — 64 3/14/2025 U. of Mich. 1 Yr Inflation 4.20% — 4.30% 3/14/2025 U. of Mich. 5-10 Yr Inflation 3.40% — 3.50%
Hafizan Hamzah Senior Director, Investment Management Group
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