November 29, 2022 Headlines

Moderation in November inflation data for both Germany and Spain sparked a mild rally in Treasuries overnight. Cyber Monday sales are expected to be as high as $11.6 billion, the biggest online spending day ever according to Adobe Inc. Significant discounts attracted strong consumer demand according to Adobe analysts, despite current inflation worries. September home price data (Case-Shiller & FHFA) will be released later this morning, as will the Conference Board’s consumer confidence data. Tomorrow will be more eventful, with updated job openings data via a new JOLTS release and an appearance from Fed Chair Powell tomorrow afternoon.

Jason Haley
Chief Investment Officer

Date Event Surv(M) Actual Prior Revised
11/28/22 Dallas Fed Manf. Activity -21 -14.4 -19.4
11/29/22 FHFA House Price Index MoM -1.20% -0.70%
11/29/22 House Price Purchase Index QoQ 4.00%
11/29/22 S&P CoreLogic CS 20-City MoM SA -1.20% -1.32%
11/29/22 S&P CoreLogic CS 20-City YoY NSA 10.55% 13.08%
11/29/22 S&P CoreLogic CS US HPI YoY NSA 12.99%
11/29/22 Conf. Board Consumer Confidence 100 102.5
11/29/22 Conf. Board Present Situation 138.9
11/29/22 Conf. Board Expectations 78.1
11/30/22 MBA Mortgage Applications 2.20%
11/30/22 ADP Employment Change 200k 239k
11/30/22 GDP Annualized QoQ 2.80% 2.60%
11/30/22 Personal Consumption 1.60% 1.40%
11/30/22 GDP Price Index 4.10% 4.10%
11/30/22 Core PCE QoQ 4.50% 4.50%
11/30/22 Advance Goods Trade Balance -$90.6b -$92.2b
11/30/22 Wholesale Inventories MoM 0.50% 0.60%
11/30/22 Retail Inventories MoM 0.50% 0.40%
11/30/22 MNI Chicago PMI 47 45.2
11/30/22 Pending Home Sales MoM -5.30% -10.20%
11/30/22 Pending Home Sales NSA YoY -35.00% -30.40%
11/30/22 JOLTS Job Openings 10300k 10717k
11/30/22 U.S. Federal Reserve Releases Beige Book
12/01/22 Challenger Job Cuts YoY 48.30%
12/01/22 Personal Income 0.40% 0.40%
12/01/22 Personal Spending 0.80% 0.60%
12/01/22 Real Personal Spending 0.40% 0.30%
12/01/22 PCE Deflator MoM 0.40% 0.30%
12/01/22 PCE Deflator YoY 6.00% 6.20%
12/01/22 PCE Core Deflator MoM 0.30% 0.50%
12/01/22 PCE Core Deflator YoY 5.00% 5.10%
12/01/22 Initial Jobless Claims 235k 240k
12/01/22 Continuing Claims 1570k 1551k
12/01/22 S&P Global US Manufacturing PMI 47.6 47.6
12/01/22 Construction Spending MoM -0.20% 0.20%
12/01/22 ISM Manufacturing 49.7 50.2
12/01/22 ISM Prices Paid 45.9 46.6
12/01/22 ISM New Orders 48.5 49.2
12/01/22 ISM Employment 50 50
12/01/22 Wards Total Vehicle Sales 14.60m 14.90m
12/02/22 Two-Month Payroll Net Revision 29k
12/02/22 Change in Nonfarm Payrolls 200k 261k
12/02/22 Change in Private Payrolls 190k 233k
12/02/22 Change in Manufact. Payrolls 20k 32k
12/02/22 Unemployment Rate 3.70% 3.70%
12/02/22 Average Hourly Earnings MoM 0.30% 0.40%
12/02/22 Average Hourly Earnings YoY 4.60% 4.70%
12/02/22 Average Weekly Hours All Employees 34.5 34.5
12/02/22 Labor Force Participation Rate 62.30% 62.20%
12/02/22 Underemployment Rate 6.80%

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