Mindblown: a blog about philosophy.
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MORNING MINUTE JULY 14th
WEAKER PPI YESTERDAY REDUCED THE CHANCE EVEN FURTHER OF MORE HIKES BY THE FED, WHILE BOTH JPM & WELLS SHOW BETTER 2Q EARNINGS, EVERYTHING IS AWESOME
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Fed’s Daly (non-voter, dovish) says it’s too early to say we have declared victory on inflation; economy has momentum, that is why I have said two more rate hikes seems reasonable – CNBC interview
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US Initial Jobless Claims w/e 237.0k vs. Exp. 250.0k (Prev. 248.0k)
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US PPI Final Demand YY* (Jun) 0.1% vs. Exp. 0.4% (Prev. 1.1%)
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US PPI exFood/Energy YY* (Jun) 2.4% vs. Exp. 2.6% (Prev. 2.8%)
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US PPI ex Food/Energy/Tr YY* (Jun) 2.6% (Prev. 2.8%)
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US PPI exFood/Energy MM* (Jun) 0.1% vs. Exp. 0.2% (Prev. 0.2%)
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US PPI Final Demand MM* (Jun) 0.1% vs. Exp. 0.2% (Prev. -0.3%)
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MORNING MINUTE JULY 13th
AFTER YESTERDAY’S CPI, IT LOOKS LIKE THE FED HAS WON THE FIGHT AGAINST INFLATION AS THE END OF THE RATE HIKE CYCLE IS NIGH
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Bank of Canada hikes rates 25bps as expected to 5.00%; removes language from June that monetary policy was not sufficiently restrictive to bring supply and demand back into balance and return inflation sustainably to the 2% target
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