| Today's Economy
Capital Market View: Fed Pushes Back on Bond Markets' Dovish Pivot The Fed's not done and a recession would cure its inflation problems. LatAm Daily Briefing: Despite Resilience, Recession Risks Remain High The region will see its collective growth slow in the second half of this year. Bank of England Preview: How Big of an Increase? We expect a 25-basis point hike Thursday, but 50 remains a possibility. Europe Daily Briefing: Tourism Rebounds in Spain Tourism inflows jumped in June, but are still not back to pre-pandemic levels. » VIEW MORE TODAY'S ECONOMY
Commentary
What to Expect From the Reserve Bank of Australia Review The government-instigated review should focus on learnings, not lashings. Macroeconomic Consequences of the Inflation Reduction Act While modest, there is plenty to like in the U.S. legislation. U.S. Chartbook: Quite a Week July ended with a string of significant economic data and a fiscal policy surprise. U.S. Weekly Highlights and Preview, August 1, 2022 We expect that job growth cooled noticeably in July, while the unemployment rate likely slipped from 3.6% to 3.5%. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
CoreLogic Home Price Index
Jun. 2022: 18.3% y/y
The CoreLogic Home Price Index lessened to 18.3% year over year in June, its lowest growth rate since the start of the year. Australia
Monetary Policy
Aug. 2022: 1.85%
The Reserve Bank of Australia kept on trend, increasing the cash rate by a further 50 basis points in August to 1.85%. Hong Kong SAR (China)
Retail Sales
Jun. 2022: -1.2% y/y
In June, retail sales values in Hong Kong declined 1.2% year over year to HKD27.7 billion, a marginal improvement from a revised 1.6% y/y decline in May. Brazil
Industrial Production
Jun. 2022: -0.5% y/y
Brazil’s industry continued to report mild monthly and annual contractions in June. United States
Moody's Analytics Used Vehicle Price Indexes
Jul. 2022: 12.8%
During July, used-vehicle prices decreased for the fifth consecutive month. United States
Job Openings and Labor Turnover Survey
Jun. 2022: 6.6% openings rate
With the U.S. economy cooling, it's not surprising that the number of job openings is declining. United States
Housing Vacancies & Homeownership
2022Q2: 65.8%
The U.S. homeownership rate edged up from 65.4% to 65.8% in the second quarter of 2022. United States
Moody’s Analytics Policy Uncertainty Index
July 29: 368.3 4-wk MA
The four-week moving average in our U.S. United States
Semiconductor Billings
Jun. 2022: -1.9%
For the first time since February, month-to-month semiconductor billings declined. New Zealand
Employment Situation
2022Q2:
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