September 8, 2022 Headlines

Treasury yields are unchanged to slightly lower following the European Central Bank’s 75 basis point rate hike, the largest one-time move in its history. This is the first time the ECB’s deposit rate has been in positive territory since 2012, and the central bank said it expects to tighten further at the next several meetings. All eyes are now on Fed Chair Powell and his participation in a Q&A session this morning hosted by the Cato Institute. On the data front, initial jobless claims unexpectedly ticked lower again last week, coming in at 222,000 versus 235,000 expected. Continuing jobless claims rose slightly to 1.47 million, still well below the 20-year average of 3.3 million.

Jason Haley
Chief Investment Officer

Date Event Actual Prior Revised
9/8/2022 Initial Jobless Claims — 232k —
9/8/2022 Continuing Claims — 1438k —
9/8/2022 Consumer Credit — $40.154b —
9/9/2022 Bloomberg Sept. United States Economic Survey
9/9/2022 Wholesale Trade Sales MoM — 1.80% —
9/9/2022 Wholesale Inventories MoM — 0.80% —
9/9/2022 Household Change in Net Worth — -$544b —
9/13/2022 NFIB Small Business Optimism — 89.9 —
9/13/2022 CPI MoM — 0.00% —
9/13/2022 CPI Ex Food and Energy MoM — 0.30% —
9/13/2022 CPI YoY — 8.50% —
9/13/2022 CPI Ex Food and Energy YoY — 5.90% —
9/13/2022 CPI Index NSA — 296.276 —
9/13/2022 CPI Core Index SA — 295.275 —
9/13/2022 Real Avg Hourly Earning YoY — -3.00% —
9/13/2022 Real Avg Weekly Earnings YoY — -3.60% —
9/13/2022 Monthly Budget Statement — -$211.1b —
9/14/2022 MBA Mortgage Applications — -0.80% —
9/14/2022 PPI Ex Food and Energy YoY — 7.60% —
9/14/2022 PPI Final Demand MoM — -0.50% —
9/14/2022 PPI Ex Food and Energy MoM — 0.20% —
9/14/2022 PPI Ex Food, Energy, Trade MoM — 0.20% —
9/14/2022 PPI Final Demand YoY — 9.80% —
9/14/2022 PPI Ex Food, Energy, Trade YoY — 5.80% —
9/15/2022 Initial Jobless Claims — — —
9/15/2022 Empire Manufacturing — -31.3 —
9/15/2022 Retail Sales Advance MoM — 0.00% —
9/15/2022 Continuing Claims — — —
9/15/2022 Retail Sales Ex Auto MoM — 0.40% —
9/15/2022 Retail Sales Ex Auto and Gas — 0.70% —
9/15/2022 Retail Sales Control Group — 0.80% —
9/15/2022 Philadelphia Fed Business Outlook — 6.2 —
9/15/2022 Import Price Index MoM — -1.40% —
9/15/2022 Import Price Index ex Petroleum MoM — -0.70% —
9/15/2022 Import Price Index YoY — 8.80% —
9/15/2022 Export Price Index MoM — -3.30% —
9/15/2022 Export Price Index YoY — 13.10% —
9/15/2022 Industrial Production MoM — 0.60% —
9/15/2022 Capacity Utilization — 80.30% —
9/15/2022 Manufacturing (SIC) Production — 0.70% —
9/15/2022 Business Inventories — 1.40% —

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