January 13, 2023 Headlines

Treasury yields are 2-3 bps higher this morning and US equity futures are in the red following the release of US bank earnings. Yesterday’s CPI release gave investors hope of a tamer path for rate hikes but earnings numbers from JP Morgan, Bank of America, and the like sparked concerns over the health of the US economy.

Hafizan Hamzah
Senior Director, Investment Management Group

Date Event Surv(M) Actual Prior Revised
01/09/23 Consumer Credit $25.000b $27.962b $27.078b $29.121b
01/10/23 NFIB Small Business Optimism 91.5 89.8 91.9
01/10/23 Wholesale Inventories MoM 1.00% 1.00% 1.00%
01/10/23 Wholesale Trade Sales MoM 0.20% -0.60% 0.40% 0.00%
01/11/23 MBA Mortgage Applications 1.20% -10.30%
01/12/23 CPI MoM -0.10% -0.10% 0.10%
01/12/23 CPI Ex Food and Energy MoM 0.30% 0.30% 0.20%
01/12/23 CPI YoY 6.50% 6.50% 7.10%
01/12/23 CPI Ex Food and Energy YoY 5.70% 5.70% 6.00%
01/12/23 CPI Index NSA 296.699 296.797 297.711
01/12/23 CPI Core Index SA 300.746 300.974 300.066
01/12/23 Real Avg Hourly Earning YoY -1.70% -1.90% -2.10%
01/12/23 Real Avg Weekly Earnings YoY -3.10% -3.00% -3.30%
01/12/23 Initial Jobless Claims 215k 205k 204k 206k
01/12/23 Continuing Claims 1710k 1634k 1694k 1697k
01/12/23 Monthly Budget Statement -$65.0b -$85.0b -$21.3b
01/13/23 Import Price Index MoM -0.90% 0.40% -0.60% -0.70%
01/13/23 Import Price Index ex Petroleum MoM -0.30% 0.80% -0.30%
01/13/23 Import Price Index YoY 2.20% 3.50% 2.70%
01/13/23 Export Price Index MoM -0.70% -2.60% -0.30% -0.40%
01/13/23 Export Price Index YoY 7.30% 5.00% 6.30% 6.10%
01/13/23 U. of Mich. Sentiment 60.7 59.7
01/13/23 U. of Mich. Current Conditions 60 59.4
01/13/23 U. of Mich. Expectations 59 59.9
01/13/23 U. of Mich. 1 Yr Inflation 4.30% 4.40%
01/13/23 U. of Mich. 5-10 Yr Inflation 2.90% 2.90%


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