March 11, 2022 Headlines

A risk-on tone took hold of the market following comments made by Vladimir Putin that “there are certain positive developments” in talks between Russia and Ukraine. Treasury yields are 2 to 3 bps higher to start the day while futures on the Dow and S&P are both pointing to a higher open. Today is a light day in terms of economic releases with the March reading of University of Michigan Consumer Sentiment index the only piece of data on today’s docket.

Hafizan Hamzah
Senior Director, Investment Management Group

03/07/22Consumer Credit$24.250b$6.838b$18.898b$22.384b
03/08/22NFIB Small Business Optimism97.395.797.1
03/08/22Trade Balance-$87.3b-$89.7b-$80.7b-$82.0b
03/08/22Wholesale Inventories MoM0.80%0.80%0.80%
03/08/22Wholesale Trade Sales MoM1.00%4.00%0.20%0.80%
03/09/22MBA Mortgage Applications8.50%-0.70%
03/09/22Bloomberg March United States Economic Survey
03/09/22JOLTS Job Openings10950k11263k10925k11448k
03/10/22CPI MoM0.80%0.80%0.60%
03/10/22CPI Ex Food and Energy MoM0.50%0.50%0.60%
03/10/22CPI YoY7.90%7.90%7.50%
03/10/22CPI Ex Food and Energy YoY6.40%6.40%6.00%
03/10/22CPI Index NSA283.7283.716281.148
03/10/22CPI Core Index SA287.95287.878286.431
03/10/22Real Avg Hourly Earning YoY-2.60%-1.70%-1.80%
03/10/22Real Avg Weekly Earnings YoY-2.30%-3.10%-3.00%
03/10/22Initial Jobless Claims217k227k215k216k
03/10/22Continuing Claims1450k1494k1476k1469k
03/10/22Household Change in Net Worth$5297b$2362b$2686b
03/10/22Monthly Budget Statement-$214.0b-$216.6b-$310.9b
03/11/22U. of Mich. Sentiment6162.8
03/11/22U. of Mich. Current Conditions65.868.2
03/11/22U. of Mich. Expectations5759.4
03/11/22U. of Mich. 1 Yr Inflation5.10%4.90%
03/11/22U. of Mich. 5-10 Yr Inflation3.00%

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