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 […]
Monthly Market Update – January 2024
Jobs, Inflation and the Federal Reserve Jobs, inflation, and expectations around what the Federal Reserve may or may not do continue to be the focus of markets as 2024 begins. The latest jobs report showed December exceeded most economists’ expectations, with the economy adding 216,000 jobs(1), surpassing estimates by 41,000(2). Further, wages rose more than […]
Monthly Market Update – December 2023
The Delicate Balance: interest rates, labor market and consumer sentiment In their final meeting of 2023, the Federal Reserve signaled a dovish pivot by updating their interest rate projections, indicating multiple rate cuts for both next year and 2025(1). The updated forecast suggests a lower path for the federal funds rate, with the Federal Reserve […]
Monthly Market Update – November 2023
Inflation slowing In October, the Consumer Price Index (CPI) showed inflation was flat on a monthly basis, slowing considerably from the 0.4% increase in prices in September(1). The yearly increase of 3.2% was helped by falling gas prices, which fell 5%, though food prices continue to increase. If gas prices continue to fall, then November’s […]
