Monthly Market Update – January 2025

Mixed signals The latest jobs reports show mixed signals of cooling and resilience. Job openings rose unexpectedly in November(1), driven by the volatile business services sector, while the quits rate declined, adding evidence pointing to potentially slower wage gains in the coming months. Average hourly earnings grew modestly, reinforcing the trend of easing wage pressures. […]

Monthly Market Update – December 2024

Steady inflation Inflation was steady in November, rising in line with economists’ expectations, but signaling mixed progress on disinflation. The consumer price index (CPI) rose 0.3% from October, bringing the annual increase to 2.7%(1). Core inflation, which strips out the volatility of food and energy prices, continued its steady climb, rising 0.3% for the fourth […]

Monthly Market Update – November 2024

Inflation and jobs Inflation continued its slow and challenging decline in October, showing only modest changes from recent months(1). The consumer price index (CPI) rose 0.2% from September and 2.6% over the past year, marking the first rise in the inflation rate since March(1). Core inflation, which excludes food and energy, rose 0.3% for the […]

Monthly Market Update – September 2024

The ongoing inflation battle US inflation unexpectedly picked up in August, largely due to rising housing and travel-related costs. Housing was the biggest driver, with rent disinflation remaining stubbornly slow. Housing costs increased by 0.5%(1), the most since the start of the year, undermining what could have been a more predictable inflation report. The core […]

Monthly Market Update – August 2024

Cooling inflation and job market It’s taken awhile, but the elusive sub-3% annual inflation(1) is now a reality, seemingly providing the Federal Reserve with enough justification to cut rates at its September meeting. The Consumer Price Index (CPI) for July increased by 0.2% from June and 2.9% from the previous year, marking the lowest annual […]

Monthly Market Update – June 2024

Inflation is finally easing Good news for consumers: the latest data showed inflation is finally easing, with the Consumer Price Index (CPI) showing a drop in prices for necessities and discretionary items(1). Headline CPI was unchanged in May, marking the tamest reading since mid-2022, while core CPI rose by 0.2%(1). Both measures signal a potential […]

Monthly Market Update – May 2024

Slowing economy and stubborn inflation As analysts assess the health of the economy, the latest jobs reports raise concerns about a potential slowdown. In April, nonfarm payrolls rose by the smallest amount in six months. The unexpected slowdown in job creation was underscored by a rise in the unemployment rate, which ticked up from 3.8% […]

Monthly Market Update – April 2024

Inflation continues The road to a normal inflationary environment looks longer than it did before. The March Consumer Price Index (CPI) report showed that headline and core CPI both rose by 0.4% on a monthly basis, exceeding forecasts and marking the third month of 0.4% increase in core CPI(1). The increases in headline and core […]

Monthly Market Update – March 2024

Inflation & consumer spending In February, the US experienced a slight acceleration in inflation, with year-over-year prices growing by 3.2%, a bit more than expected, and marking a modest increase from January’s 3.1% rise(1). The acceleration in monthly prices was largely caused by rising gas and shelter costs, which together accounted for over 60% of […]

Monthly Market Update – February 2024

Labor market, CPI and the Feds The jobs market continues to show remarkable resilience. In January, there were 353,000 new jobs added, the largest increase in one year(1). Wages also grew by 0.6%, giving consumers a boost in their inflation-adjusted spending power. Treasury yields surged immediately following the strong job report, reinforcing the Federal Reserve’s […]