July 12, 2022 Headlines

The Treasury rally continues with yields 4 to 7 bps lower this morning. The curve continues to flatten with the spread between the 2-year and 10-year now sitting at -11.6 bps, down 89 bps from the end of 2021, and the lowest level since 2006. Recession remains the topic du jour as investors fear as the Fed continues to aggressively tighten while an uptick in Covid cases could spark a new round of lockdowns in China.

Hafizan Hamzah
Senior Director, Investment Management Group

Date Event Surv(M) Actual Prior Revised
07/12/22 NFIB Small Business Optimism 92.5 89.5 93.1
07/13/22 MBA Mortgage Applications -5.40%
07/13/22 CPI MoM 1.10% 1.00%
07/13/22 CPI Ex Food and Energy MoM 0.50% 0.60%
07/13/22 CPI YoY 8.80% 8.60%
07/13/22 CPI Ex Food and Energy YoY 5.70% 6.00%
07/13/22 CPI Index NSA 295.716 292.296
07/13/22 CPI Core Index SA 294.451 292.289
07/13/22 Real Avg Hourly Earning YoY -3.00% -2.90%
07/13/22 Real Avg Weekly Earnings YoY -3.90% -4.00%
07/13/22 Monthly Budget Statement -$75.0b -$174.2b
07/13/22 U.S. Federal Reserve Releases Beige Book
07/14/22 PPI Final Demand MoM 0.80% 0.80%
07/14/22 PPI Ex Food and Energy MoM 0.50% 0.50%
07/14/22 PPI Ex Food, Energy, Trade MoM 0.50% 0.50%
07/14/22 PPI Final Demand YoY 10.70% 10.80%
07/14/22 PPI Ex Food and Energy YoY 8.20% 8.30%
07/14/22 PPI Ex Food, Energy, Trade YoY 6.60% 6.80%
07/14/22 Initial Jobless Claims 235k 235k
07/14/22 Continuing Claims 1380k 1375k
07/15/22 Empire Manufacturing -2 -1.2
07/15/22 Retail Sales Advance MoM 0.90% -0.30%
07/15/22 Retail Sales Ex Auto MoM 0.70% 0.50%
07/15/22 Retail Sales Ex Auto and Gas 0.10% 0.10%
07/15/22 Retail Sales Control Group 0.30% 0.00%
07/15/22 Import Price Index MoM 0.70% 0.60%
07/15/22 Import Price Index ex Petroleum MoM 0.10% -0.10%
07/15/22 Import Price Index YoY 11.40% 11.70%
07/15/22 Export Price Index MoM 1.10% 2.80%
07/15/22 Export Price Index YoY 18.90%
07/15/22 Bloomberg July United States Economic Survey
07/15/22 Capacity Utilization 80.70% 79.00% 80.80%
07/15/22 Industrial Production MoM 0.10% 0.20% 0.10%
07/15/22 Manufacturing (SIC) Production -0.10% -0.10%
07/15/22 Business Inventories 1.30% 1.20%
07/15/22 U. of Mich. Sentiment 50 50
07/15/22 U. of Mich. Current Conditions 53.8 53.8
07/15/22 U. of Mich. Expectations 47 47.5
07/15/22 U. of Mich. 1 Yr Inflation 5.30% 5.30%
07/15/22 U. of Mich. 5-10 Yr Inflation 3.00% 3.10%

 

Subscribe Today!

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

Recent Articles

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.