This will be an interesting week as we get key pieces of inflation data with the CPI (consumer price index) and the PPI (producer price index).
The S&P500 rose by 1.8% – a perfect week as jobless claims jumped higher which followed up the rising unemployment numbers from the previous week. Weakening employment may be a sign of a weakening economy and generally folks want to see a little weakness.
Last week the 10-year treasury was pretty darned flat on the week—closing the week at 4.5% which was equal to the close in the previous Friday. Increasing jobless claims was key data last week and will be again this week (will a trend start to develop). More importantly we will see the PPI on Tuesday and the CPI will follow that up on Wednesday. Forecasts are for these numbers to remain flat to down a little, but we all know that surprises either way can send interest rates up or down. We’ll see.
The Fed balance sheet fell by $9 billion last week. We will see a reduced amount of ‘run-off’ now that the Fed announced they will change the monthly run-off from $95 billion to $60 billion. Essentially they are ‘easing’ a little.
The average $25/share preferred stock and baby bond didn’t move too much last week—down 7 cents. Investment grade fell by 13 cents, banking issues fell by 7 cents, CEF preferreds fell 1 penny and shipping issues fell 3 cents. The lone gainer (of sectors we follow) was the mREITs–they gained 2 cents.
Last week we had 3 new income issues price–a banner week.
Any way you could add a “Sort By Date” on the search results? Or am I missing it? Could have swore it had it back in the day.