November 8, 2021 Headlines

Treasuries are giving some of last week’s gains back with yields 3-4 basis points higher across much of the curve to start the week, and U.S. equity futures are little changed at the moment. The focus for fixed income markets this week will be fresh October inflation data for both producers (Tuesday) and consumers (Wednesday), as well as two appearances by Fed Chair Powell. Two other Fed governors will also be speaking today, beginning with Vice Chair Richard Clarida at 9am ET and Governor Michelle Bowman at noon ET. For Wednesday’s CPI report, the core index is expected to jump to 4.3% year-over-year, up 30 basis points from the prior month.

Jason Haley
Chief Investment Officer

11/09/21NFIB Small Business Optimism99.599.1
11/09/21PPI Final Demand MoM0.60%0.50%
11/09/21PPI Ex Food and Energy MoM0.50%0.20%
11/09/21PPI Ex Food, Energy, Trade MoM0.30%0.10%
11/09/21PPI Final Demand YoY8.60%8.60%
11/09/21PPI Ex Food and Energy YoY6.80%6.80%
11/09/21PPI Ex Food, Energy, Trade YoY5.90%
11/10/21MBA Mortgage Applications-3.30%
11/10/21Initial Jobless Claims263k269k
11/10/21Continuing Claims2050k2105k
11/10/21CPI MoM0.60%0.40%
11/10/21CPI Ex Food and Energy MoM0.40%0.20%
11/10/21CPI YoY5.90%5.40%
11/10/21CPI Ex Food and Energy YoY4.30%4.00%
11/10/21CPI Index NSA275.718274.31
11/10/21CPI Core Index SA281.008280.017
11/10/21Real Avg Hourly Earning YoY-0.80%
11/10/21Real Avg Weekly Earnings YoY-0.80%
11/10/21Langer Consumer Comfort49.2
11/10/21Wholesale Inventories MoM1.10%1.10%
11/10/21Wholesale Trade Sales MoM-1.10%
11/10/21Monthly Budget Statement-$175.0b-$61.5b
11/10/21-11/13/21Mortgage Delinquencies5.47%
11/10/21-11/13/21MBA Mortgage Foreclosures0.51%
11/12/21Bloomberg Nov. United States Economic Survey
11/12/21JOLTS Job Openings10400k10439k
11/12/21U. of Mich. Sentiment72.571.7
11/12/21U. of Mich. Current Conditions7977.7
11/12/21U. of Mich. Expectations70.367.9
11/12/21U. of Mich. 1 Yr Inflation4.80%
11/12/21U. of Mich. 5-10 Yr Inflation2.90%


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