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

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

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