Market Performance (YTD)
CPI: Shelter came in hotter. As did food at home. The offset from a decline in gasoline by 10.6% wasn't enough. pic.twitter.com/kP3dzh2Dvs
— Ayesha Tariq, CFA (@ayeshatariq) September 13, 2022
Here's a chart of year-on-year CPI inflation, broken down by major component:
Food, energy, and core goods are still major contributors—but core services (which is mostly rents) is now far and away the largest contributor, making up approximately 1/2 of total inflation. pic.twitter.com/OfqN4lcjPX
— Joey Politano 🏳️🌈 (@JosephPolitano) September 13, 2022
Higher housing prices have been to be a major driver of excessive inflation
A slowing US housing market has already begun to impact prices which should provide a runway for lower levels of inflation
— Patrick Huang (@SFA_InvResearch) September 16, 2022
Yet another “yikes” housing datapoint: September @NAHBhome Home Builders Market Index fell to 46 vs. 47 est. & 49 in prior month; sentiment has fallen every month this year, which is longest stretch of declines back to 1985 pic.twitter.com/HobOCrQKa5
— Liz Ann Sonders (@LizAnnSonders) September 19, 2022
Between May 2022 and August 2022, home values are down…
10.59% in San Jose.
7.8% in San Francisco.
7.36% in Austin.
7.09% in Salt Lake City. pic.twitter.com/Vjfx7Ii9re
— Lance Lambert (@NewsLambert) September 20, 2022
Here's an update of our table that shows the forward path for YoY CPI based on constant MoM prints between -0.1% and +0.4%. pic.twitter.com/B6EJwMzNfv
— Bespoke (@bespokeinvest) September 19, 2022
U.S. 2-year yields have risen by more than 3 percentage points this year, the most since 1994, and potentially poised to eclipse that year's increase if things keep up this way. pic.twitter.com/COHuNcPZCs
— Lisa Abramowicz (@lisaabramowicz1) September 20, 2022
— Holger Zschaepitz (@Schuldensuehner) September 19, 2022
U.S. investment-grade bond yields are the highest since 2009, at an average 5.14%. pic.twitter.com/XIuQELONAY
— Lisa Abramowicz (@lisaabramowicz1) September 19, 2022
To put this in perspective, it would be the third lowest euro area GDP growth since WW2, behind 2009 and 2020. via DB's Jim Reid pic.twitter.com/wIJywpXXa9
— Lisa Abramowicz (@lisaabramowicz1) September 21, 2022
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