The ECB belatedly moved to catch up with markets last week. Recent inflation surprises have forced the central bank to change track. Labour market recoveries have been swift, particularly for…
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Average hourly earnings increased 0.73% m/m in January, a stronger rise than in December (+0.54% m/m). The y/y accelerated to 5.68%. The Treasury market has responded, with big moves: the…
The NBS non-manufacturing new orders PMI fell to 47.8 in January. Employment decreased at a faster rate: the employment sub-index declined to 46.9, the lowest reading since the start of…
Despite briefly entering correction territory on Monday (down 4.0% on the day at one point) the S&P 500 has fallen just 0.9% so far this week. Major indices pared big…
Energy prices were supposed to contribute to the normalisation of prices in 2022. But Brent crude rose to the highest level since 2014 this morning. The rebound in oil prices…
According to a Federal Reserve Bank of Atlanta survey, businesses in the Sixth District now expect wages to climb by just under 8.0% y/y in 2022. Given how tight the…
