December 8, 2021 Headlines

Treasury yields have moved higher following news that a third vaccine dose neutralizes the latest COVID variant. Futures on the Dow and S&P are both pointing to a higher open. Preliminary data from Pfizer and BioNTech increases antibodies and has shown to help fight off the omicron variant. This news has helped to assuage fears of a new round of lockdowns, which had roiled markets recently.

Hafizan Hamzah
Director, Investment Management Group

12/07/21Nonfarm Productivity-4.90%-5.20%-5.00%
12/07/21Unit Labor Costs8.30%9.60%8.30%
12/07/21Trade Balance-$66.8b-$67.1b-$80.9b-$81.4b
12/07/21Consumer Credit$25.000b$16.897b$29.913b$27.823b
12/08/21MBA Mortgage Applications2.00%-7.20%
12/08/21JOLTS Job Openings10469k10438k
12/09/21Initial Jobless Claims220k222k
12/09/21Continuing Claims1910k1956k
12/09/21Langer Consumer Comfort51
12/09/21Wholesale Trade Sales MoM1.00%1.10%
12/09/21Wholesale Inventories MoM2.20%2.20%
12/09/21Household Change in Net Worth$5849b
12/10/21Real Avg Hourly Earning YoY-1.20%-1.30%
12/10/21CPI MoM0.70%0.90%
12/10/21CPI Ex Food and Energy MoM0.50%0.60%
12/10/21CPI YoY6.80%6.20%
12/10/21CPI Ex Food and Energy YoY4.90%4.60%
12/10/21CPI Index NSA278.113276.589
12/10/21CPI Core Index SA283.524281.695
12/10/21Real Avg Weekly Earnings YoY-1.60%
12/10/21U. of Mich. Sentiment6867.4
12/10/21U. of Mich. Current Conditions73.473.6
12/10/21U. of Mich. Expectations6263.5
12/10/21U. of Mich. 1 Yr Inflation5.00%4.90%
12/10/21U. of Mich. 5-10 Yr Inflation3.00%
12/10/21Monthly Budget Statement-$194.0b-$165.1b


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