August 22, 2022 Headlines

Front-end Treasury yields are up another 7 basis points this morning, with the 2-year yield now up to 3.31% ahead of Fed Chair Powell’s Jackson Hole speech on Friday. Expectations for the Fed to remain hawkish for an extended time period are keeping intermediate and long-end rates more anchored, pushing the 2-year/10-year Treasury spread 6 basis points flatter on the day. We are not expecting any dovish leanings from Powell this week. He is likely to reaffirm the central bank’s commitment to price stability regardless of any market speculation of emerging recession risks. S&P PMI data for August will be released tomorrow, and the July personal income and spending data will be released on Friday, just ahead of Powell’s 10am EDT speech.
Jason Haley
Chief Investment Officer

Date	Event	Surv(M)	Actual	Prior	Revised
08/22/22	Chicago Fed Nat Activity Index	-0.25	0.27	-0.19	-0.25
08/23/22	S&P Global US Manufacturing PMI	51.9	—	52.2	—
08/23/22	S&P Global US Services PMI	50	—	47.3	—
08/23/22	S&P Global US Composite PMI	—	—	47.7	—
08/23/22	Richmond Fed Manufact. Index	-5	—	0	—
08/23/22	New Home Sales	575k	—	590k	—
08/23/22	New Home Sales MoM	-2.50%	—	-8.10%	—
08/24/22	MBA Mortgage Applications	—	—	-2.30%	—
08/24/22	Durable Goods Orders	0.80%	—	2.00%	—
08/24/22	Durables Ex Transportation	0.20%	—	0.40%	—
08/24/22	Cap Goods Orders Nondef Ex Air	0.40%	—	0.70%	—
08/24/22	Cap Goods Ship Nondef Ex Air	0.50%	—	0.70%	—
08/24/22	Pending Home Sales MoM	-2.10%	—	-8.60%	—
08/24/22	Pending Home Sales NSA YoY	—	—	-19.80%	—
08/25/22	Initial Jobless Claims	252k	—	250k	—
08/25/22	GDP Annualized QoQ	-0.70%	—	-0.90%	—
08/25/22	Continuing Claims	1441k	—	1437k	—
08/25/22	Personal Consumption	1.50%	—	1.00%	—
08/25/22	GDP Price Index	8.70%	—	8.70%	—
08/25/22	Core PCE QoQ	4.40%	—	4.40%	—
08/25/22	Kansas City Fed Manf. Activity	9	—	13	—
08/26/22	Advance Goods Trade Balance	-$98.1b	—	-$98.2b	-$98.6b
08/26/22	Wholesale Inventories MoM	1.30%	—	1.80%	—
08/26/22	Personal Income	0.60%	—	0.60%	—
08/26/22	Personal Spending	0.40%	—	1.10%	—
08/26/22	Retail Inventories MoM	—	—	2.00%	—
08/26/22	Real Personal Spending	0.40%	—	0.10%	—
08/26/22	PCE Deflator MoM	0.10%	—	1.00%	—
08/26/22	PCE Deflator YoY	6.40%	—	6.80%	—
08/26/22	PCE Core Deflator MoM	0.20%	—	0.60%	—
08/26/22	PCE Core Deflator YoY	4.70%	—	4.80%	—
08/26/22	U. of Mich. Sentiment	55.4	—	55.1	—
08/26/22	U. of Mich. Current Conditions	—	—	55.5	—
08/26/22	U. of Mich. Expectations	—	—	54.9	—
08/26/22	U. of Mich. 1 Yr Inflation	—	—	5.00%	—
08/26/22	U. of Mich. 5-10 Yr Inflation	—	—	3.00%	—

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Recent Articles

December 8, 2023 Headlines December 8, 2023
December 7, 2023 Headlines December 7, 2023
December 6, 2023 Headlines December 6, 2023

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content.Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First.Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.