December 9, 2021 Headlines

Fresh omicron worries sparked a bid for Treasuries overnight, sending long-end yields 3-5 basis points lower to start the day. U.S. equity futures are down approximately 0.35% a half hour ahead of the open. A new Japanese study suggests the omicron variant is 4.2 times more transmissible than delta and escapes natural vaccine immunity more. The Fed is in its blackout period for public comments ahead of next Wednesday’s FOMC meeting, and tomorrow all eyes will be on the November CPI report release.  

Jason Haley
Chief Investment Officer

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 Openings10469k11033k10438k10602k
12/09/21Initial Jobless Claims220k184k222k227k
12/09/21Continuing Claims1910k1992k1956k1954k
12/09/21Langer Consumer Comfort51
12/09/21Wholesale Inventories MoM2.20%2.20%
12/09/21Wholesale Trade Sales MoM1.00%1.10%
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-$193.0b-$165.1b


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