Source: New York Fed The US consumers expect the median consumer prices in the one-year-ahead period to be 6.6%, a new series high and an increase from February estimates of 6.0%. SPY is down -1.10%, DXY is +0.10%. Consumers are still optimistic that inflation will wane in the medium and longer-term, with expectations of a gain of 3.7% in three years, down from February … [Read more...] about US Inflation Expectations Year-Ahead Hits a Record 6.6% in March
USA
US Could Fall Into Recession With Policy Tightening, BofA Warns
Source: Reuters The United States could fall into economic recession with the anticipated policy rate hikes amid the inflationary uptick, strategists at Bank of America warned. BAC is up 1.36%, while QQQ is down 0.54%. Chief Investment Strategist Michael Hartnett warned clients of the possible impacts of policy tightening, with what he called an ‘inflation shock’ … [Read more...] about US Could Fall Into Recession With Policy Tightening, BofA Warns
Dollar Grows to Strongest Level in Nearly Two Years
Source: Bloomberg An indicator of the US dollar rallied to its best performance in nearly two years in line with the continued increase in Treasury yields. DXY is up 0.30%, while QQQ is down 1.02%. The Bloomberg Dollar Spot index inched up by 0.4%, overtaking the previous year-to-date high. The last time this level was seen was in July 2020.The greenback appreciated … [Read more...] about Dollar Grows to Strongest Level in Nearly Two Years
US Wholesale Inventories Accelerate by 2.5% In February
Source: Census Bureau US total inventories at merchant wholesalers were $818.2 billion at the end of February, an increase of 2.5% from the previous month. SPY is down -0.22%, DXY is up +0.30%. The February wholesale inventories were 19.9% higher than the prior year, with the volume accelerating from an increase of 1.2% in January.The sales of the wholesale inventories … [Read more...] about US Wholesale Inventories Accelerate by 2.5% In February
US Mortgage Rates Rises to the Highest Since December 2018
Source: Bloomberg The average rate on the 30-year US mortgage was recorded at 4.72%, an increase from 4.67% last week. SPY is down -0.44%, DXY is up -0.02%. The mortgage rates have now risen for the fifth straight week, with the latest rate the highest since December 2018.The rise in mortgage costs has been reflected through falling loan demand, while the refinancing … [Read more...] about US Mortgage Rates Rises to the Highest Since December 2018
