3/11- Weekly Economic Highlights
The Consumer Price Index headlined the economic data releases this week and although U.S. consumer prices were in line with expectations, inflation hit a 40-year high. The Consumer Price Index (CPI) was up 7.9% year-over-year in February, versus a 7.5% year-over-year gain in January. Core CPI (CPI less food and energy) was up 6.4% year-over-year in February, versus up 6.0% in January.
3/4- Weekly Economic Highlights
Geopolitical risk and the escalating Russia invasion of Ukraine continues to heavily influence market pricing. Financial conditions are beginning to tighten with investment grade credit spreads moving wider, elevated new issue concession in the primary market, and decreasing liquidity with wider bid/ask spreads across the fixed income universe.
2/25- Weekly Economic Highlights
The reality and human tragedy of the Russian invasion into Ukraine increased volatility in financial market this week. The onset of the invasion rattled financial markets on Thursday. Global stock markets were soft in the days leading up to the invasion but rallied late Thursday and into Friday as the initial shock receded. The yield on the 10-year US Treasury note fell to 1.84% intra- day on Thursday but was yielding 1.99% this morning , up 0.06% as flight to quality assets faded in financial markets.
2/18- Weekly Economic Highlights
U.S. consumer prices climbed more than expected in January as inflation hit highs not seen since 1982. The Consumer Price Index (CPI) was up 7.5% year-over-year in January, versus up a 7.0% year-over-year gain in December. Core CPI (CPI less food and energy) was up 6.0% year-over-year in January, versus up 5.5% in December.
2/11- Weekly Economic Highlights
U.S. consumer prices climbed more than expected in January as inflation hit highs not seen since 1982. The Consumer Price Index (CPI) was up 7.5% year-over-year in January, versus up a 7.0% year-over-year gain in December. Core CPI (CPI less food and energy) was up 6.0% year-over-year in January, versus up 5.5% in December.
2/4- Weekly Economic Highlights
The January employment report surprised to the upside today with US nonfarm payroll growth of 467,000 in the month versus the consensus forecast which called for an increase of only 125,000 due to omicron concerns.
1/28- Weekly Economic Highlights
An investment theme for the Chandler team going into 2022 centered around markets being at an inflection point; given the adjustment higher in Treasury yields and the volatility in equity markets in January the theme looks to stay in place going forward. Although market prices have been adjusting to the elevated inflation readings for some time, the notable news of the past week was the Federal Reserve Chair Powell’s press conference after the conclusion of the January 25-26 Federal Open Market Committee (FOMC) meeting.
1/21- Weekly Economic Highlights
Inflation continues to run well above the Fed’s longer-run target of around 2.0%. The Consumer Price Index (CPI) was up 7.0% year-over-year in December, versus up 6.8% year-over-year in November. Core CPI (CPI less food and energy) was up 5.5% year-over-year in December, versus up 4.9% in November.
1/14- Weekly Economic Highlights
Inflation continues to run well above the Fed’s longer-run target of around 2.0%. The Consumer Price Index (CPI) was up 7.0% year-over-year in December, versus up 6.8% year-over-year in November. Core CPI (CPI less food and energy) was up 5.5% year-over-year in December, versus up 4.9% in November.
1/7- Weekly Economic Highlights
Job growth slowed in December, with US nonfarm payroll growth of just 199,000 in the month versus the consensus forecast of 450,000, but the unemployment rate still declined to 3.9%, the lowest level since February 2020.