March 10, 2022 Headlines

Treasuries opened 1-2 bps higher this morning following the surprise announcement that the ECB would accelerate its exit from the bond market. But than retraced some of that move following the CPI release. CPI increased by 0.8% MoM and core CPI, which excludes food and energy costs, increased by 0.5%. The YoY numbers show headline CPI hitting a 40-year high of 7.9% while core CPI rose to 6.4%. Rising gasoline prices accounted for nearly a third of the MoM increase in CPI. Increased in food prices also drove the number higher, with food prices up 1% in February. It’s a foregone conclusion that the Fed will raise rates next week, the question on everyone’s mind is how will the central bank manage monetary policy in the face of steady inflation pressures and Russia’s invasion of Ukraine.

Hafizan Hamzah
Senior Director, Investment Management Group

Date	Event	Surv(M)	Actual	Prior	Revised
03/07/22	Consumer Credit	$24.250b	$6.838b	$18.898b	$22.384b
03/08/22	NFIB Small Business Optimism	97.3	95.7	97.1	—
03/08/22	Trade Balance	-$87.3b	-$89.7b	-$80.7b	-$82.0b
03/08/22	Wholesale Inventories MoM	0.80%	0.80%	0.80%	—
03/08/22	Wholesale Trade Sales MoM	1.00%	4.00%	0.20%	0.80%
03/09/22	MBA Mortgage Applications	—	8.50%	-0.70%	—
03/09/22	Bloomberg March United States Economic Survey
03/09/22	JOLTS Job Openings	10950k	11263k	10925k	11448k
03/10/22	CPI MoM	0.80%	0.80%	0.60%	—
03/10/22	CPI Ex Food and Energy MoM	0.50%	0.50%	0.60%	—
03/10/22	CPI YoY	7.90%	7.90%	7.50%	—
03/10/22	CPI Ex Food and Energy YoY	6.40%	6.40%	6.00%	—
03/10/22	CPI Index NSA	283.7	283.716	281.148	—
03/10/22	CPI Core Index SA	287.95	287.878	286.431	—
03/10/22	Real Avg Hourly Earning YoY	—	-2.60%	-1.70%	-1.80%
03/10/22	Real Avg Weekly Earnings YoY	—	-2.30%	-3.10%	-3.00%
03/10/22	Initial Jobless Claims	217k	227k	215k	216k
03/10/22	Continuing Claims	1450k	1494k	1476k	1469k
03/10/22	Household Change in Net Worth	—	—	$2362b	—
03/10/22	Monthly Budget Statement	-$212.0b	—	-$310.9b	—
03/11/22	U. of Mich. Sentiment	61	—	62.8	—
03/11/22	U. of Mich. Current Conditions	65.8	—	68.2	—
03/11/22	U. of Mich. Expectations	57	—	59.4	—
03/11/22	U. of Mich. 1 Yr Inflation	5.10%	—	4.90%	—
03/11/22	U. of Mich. 5-10 Yr Inflation	—	—	3.00%	—

Subscribe Today!

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

Recent Articles

December 8, 2023 Headlines December 8, 2023
December 7, 2023 Headlines December 7, 2023
December 6, 2023 Headlines December 6, 2023

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.