January 11, 2021 Headlines

Overnight trading volumes were light in the Treasury market with Japan closed for holiday. Yields are slightly lower/flatter this morning on a softer tone in risk markets both here and abroad. There are no data releases on the economic calendar for today, but December CPI (Wednesday) and December retail sales (Friday) will be released this week. There are several Fed leaders scheduled to speak this week, including Jerome Powell taking part in a Princeton economics webinar on Thursday.

Jason Haley
Chief Investment Officer

1/12/2021NFIB Small Business Optimism100101.4
1/12/2021JOLTS Job Openings64006652
1/13/2021MBA Mortgage Applications1.70%
1/13/2021CPI MoM0.40%0.20%
1/13/2021CPI Ex Food and Energy MoM0.10%0.20%
1/13/2021CPI YoY1.30%1.20%
1/13/2021CPI Ex Food and Energy YoY1.60%1.60%
1/13/2021CPI Index NSA260.401260.229
1/13/2021CPI Core Index SA270.243269.887
1/13/2021Real Avg Hourly Earning YoY3.20%
1/13/2021Real Avg Weekly Earnings YoY4.70%
1/13/2021Monthly Budget Statement-$145.0b-$145.3b
1/13/2021U.S. Federal Reserve Releases Beige Book
1/14/2021Revisions: Philadelphia Fed Manufacturing Survey
1/14/2021Initial Jobless Claims790k787k
1/14/2021Import Price Index MoM0.70%0.10%
1/14/2021Continuing Claims5000k5072k
1/14/2021Import Price Index ex Petroleum MoM0.10%0.00%
1/14/2021Import Price Index YoY-0.80%-1.00%
1/14/2021Export Price Index MoM0.60%0.60%
1/14/2021Export Price Index YoY-1.10%
1/14/2021Bloomberg Consumer Comfort44.4
1/15/2021PPI Final Demand MoM0.40%0.10%
1/15/2021PPI Ex Food and Energy MoM0.10%0.10%
1/15/2021PPI Ex Food, Energy, Trade MoM0.20%0.10%
1/15/2021PPI Final Demand YoY0.80%0.80%
1/15/2021PPI Ex Food, Energy, Trade YoY0.90%0.90%
1/15/2021PPI Ex Food and Energy YoY1.30%1.40%
1/15/2021Empire Manufacturing64.9
1/15/2021Retail Sales Advance MoM0.00%-1.10%
1/15/2021Retail Sales Ex Auto MoM-0.10%-0.90%
1/15/2021Retail Sales Ex Auto and Gas-0.30%-0.80%
1/15/2021Retail Sales Control Group0.10%-0.50%
1/15/2021Bloomberg Jan. United States Economic Survey
1/15/2021Capacity Utilization73.60%73.30%
1/15/2021Industrial Production MoM0.50%0.40%
1/15/2021Manufacturing (SIC) Production0.50%0.80%
1/15/2021Business Inventories0.50%0.70%
1/15/2021U. of Mich. Sentiment79.980.7
1/15/2021U. of Mich. Current Conditions90
1/15/2021U. of Mich. Expectations74.6
1/15/2021U. of Mich. 1 Yr Inflation2.50%2.50%
1/15/2021U. of Mich. 5-10 Yr Inflation2.50%

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