May 10, 2022 Headlines

Treasury yields are lower and flatter to start the day, with the belly of the yield curve leading the way down 5 basis points. The tone in risk markets is improved following yesterday’s selloff, the third decline in as many days. S&P 500 futures are currently up 0.94% as of 8:30am ET. Six different Fed leaders are scheduled to speak today, including Fed Governor Christopher Waller. Atlanta Fed President Raphael Bostic said yesterday he thinks the FOMC can do 50 bps hikes “maybe two, maybe three times” and then assess how the economy and inflation are responding.

Jason Haley
Chief Investment Officer

Date	Event	Surv(M)	Actual	Prior	Revised
05/09/22	Wholesale Inventories MoM	2.30%	2.30%	2.30%	—
05/09/22	Wholesale Trade Sales MoM	1.80%	1.70%	1.70%	1.50%
05/10/22	NFIB Small Business Optimism	92.9	93.2	93.2	—
05/11/22	MBA Mortgage Applications	—	—	2.50%	—
05/11/22	CPI MoM	0.20%	—	1.20%	—
05/11/22	CPI Ex Food and Energy MoM	0.40%	—	0.30%	—
05/11/22	CPI YoY	8.10%	—	8.50%	—
05/11/22	CPI Ex Food and Energy YoY	6.00%	—	6.50%	—
05/11/22	CPI Index NSA	288.768	—	287.504	—
05/11/22	CPI Core Index SA	289.861	—	288.811	—
05/11/22	Real Avg Hourly Earning YoY	—	—	-2.70%	-2.60%
05/11/22	Real Avg Weekly Earnings YoY	—	—	-3.60%	-3.50%
05/11/22	Monthly Budget Statement	$260.0b	—	-$192.7b	—
05/12/22	PPI Final Demand MoM	0.50%	—	1.40%	—
05/12/22	PPI Ex Food and Energy MoM	0.60%	—	1.00%	—
05/12/22	PPI Ex Food, Energy, Trade MoM	0.60%	—	0.90%	—
05/12/22	PPI Final Demand YoY	10.70%	—	11.20%	—
05/12/22	PPI Ex Food and Energy YoY	8.90%	—	9.20%	—
05/12/22	PPI Ex Food, Energy, Trade YoY	—	—	7.00%	—
05/12/22	Initial Jobless Claims	193k	—	200k	—
05/12/22	Continuing Claims	1370k	—	1384k	—
05/13/22	Import Price Index MoM	0.60%	—	2.60%	—
05/13/22	Import Price Index ex Petroleum MoM	0.70%	—	1.10%	—
05/13/22	Import Price Index YoY	12.10%	—	12.50%	—
05/13/22	Export Price Index MoM	0.70%	—	4.50%	—
05/13/22	Export Price Index YoY	—	—	18.80%	—
05/13/22	Bloomberg May United States Economic Survey
05/13/22	U. of Mich. Sentiment	64	—	65.2	—
05/13/22	U. of Mich. Current Conditions	70	—	69.4	—
05/13/22	U. of Mich. Expectations	61.5	—	62.5	—
05/13/22	U. of Mich. 1 Yr Inflation	5.50%	—	5.40%	—
05/13/22	U. of Mich. 5-10 Yr Inflation	—	—	3.00%	—
05/13/22	Revisions: Manufacturing Shipments, Orders, Inventories

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