September 19, 2022 Headlines

We begin the day with a sell-off In Treasuries once more, with yields 5-7 basis points higher. Markets are preparing for outsized rate hikes from several central banks this week. A Bloomberg article highlights that more than 500 basis points of rate hikes are expected globally in just a 3-day period. That includes the FOMC on Wednesday, and while there has been some chatter of a potential 100 basis point hike by the Fed, fed fund futures remain priced for a 75 basis point hike. Beyond this week’s central bank announcements, the economic calendar is relatively light. Data for August housing starts and existing home sales will be released tomorrow and Wednesday, respectively, and preliminary September PMI data from S&P will be released on Friday.

Jason Haley
Chief Investment Officer

09/19/22NAHB Housing Market Index4749
09/20/22Housing Starts1450k1446k
09/20/22Building Permits1609k1674k1685k
09/20/22Housing Starts MoM0.30%-9.60%
09/20/22Building Permits MoM-4.50%-1.30%-0.60%
09/21/22MBA Mortgage Applications-1.20%
09/21/22Existing Home Sales4.70m4.81m
09/21/22Existing Home Sales MoM-2.30%-5.90%
09/21/22FOMC Rate Decision (Lower Bound)3.00%2.25%
09/21/22FOMC Rate Decision (Upper Bound)3.25%2.50%
09/21/22Interest on Reserve Balances Rate3.15%2.40%
09/22/22Current Account Balance-$261.5b-$291.4b
09/22/22Initial Jobless Claims216k213k
09/22/22Continuing Claims1408k1403k
09/22/22Leading Index-0.10%-0.40%
09/22/22Kansas City Fed Manf. Activity53
09/23/22S&P Global US Manufacturing PMI51.151.5
09/23/22S&P Global US Services PMI45.543.7
09/23/22S&P Global US Composite PMI4644.6

Subscribe Today!

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

Recent Articles

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.