In anticipation of tomorrow’s rate decision, we saw another indicator today that the Federal Reserve has been successful in stemming the tide of inflation. The Employment Cost Index for the fourth quarter of 2022 came in under expectations at 1%...
South Korea and Japan are the top two source nations for Chinese imports respectively, and generally they export the same kinds of manufactured goods. With the expected explosion in demand from China’s reopening, both countries stand poised for a trade...
Yesterday, we got our first look at December’s economic data for Europe, in the form of PMIs. It is also our first look at any data related to trade and the China reopening. In light of the reopening, lets delve...
The US Purchasing Managers Composite Index (PMI) increased in January to 46.6 from 45 in December, representing a slowing economy but slightly less pessimistic than expected and better than the month before. As a preliminary release for January, this US...
The Atlanta Fed Flexible CPI is a price series developed by the Atlanta Fed to capture the price of items that change the most frequently. This price series is supposed to be more responsive to real-time changes in the economy...
We got consumer price reports for many European countries this week. The main story for the Eurozone is still one of sticky inflation driven by elevated food and fuel prices, though there are some differences emerging among the major European...
With mortgage rates down, mortgage applications for purchase surged last week, indicating some renewed enthusiasm from potential home buyers. Additionally, the NAHB’s survey of home builders showed what could be a bottom in negative sentiment or at least a reprieve...
In abrupt volte-face, on December 7, 2022, China announced an end to its “Zero-COVID” policy after the country endured almost three years of damaging lockdowns. This began a flurry of speculation on the impact that China’s reopening would have on...
Overnight, traders pressed the Bank of Japan again on its Yield Curve Control (YCC). Japanese Government Bonds (JGBs) traded up to 55bps, exceeding the 50bps YCC. This prompted the Bank of Japan (BoJ) to intervene and hammer the rate back...
The December U.S. Bureau of Labor Statistics’ Consumer Price Index came in exactly as expected according to Bloomberg’s survey of economists. Headline CPI came in at -0.1% month over month and 6.5% year over year, and Core (CPI Ex Food...
