| Today's Economy
Capital Market View: U.S. Bond Market Not Immune to Volcker-Channeling Powell Spreads have widened and perceptions of credit risk have risen. LatAm Daily Briefing: LatAm’s Hard Currency Reserves Drop As the region faces a deteriorating outlook, its record currency reserves are falling fast. U.S. Labor Demand Still Red-Hot The Fed faces a narrow path toward a soft landing. Europe Daily Briefing: Euro Zone Sentiment Falls in August The ESI fell to its lowest reading since February 2021. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Housing More Overvalued Than Ever House price appreciation will quickly cool in the coming quarters as higher mortgage rates zap demand. APAC Chartbook: Climate Catastrophe Floods and drought are devastating the region. Corporate Investors Dominate Bottom End of Housing Market Affordability pressures will persist despite a cooling U.S. market. U.S. Weekly Highlights and Preview, August 29, 2022 Our preliminary forecast is for nonfarm employment to have risen by 250,000 between July and August. » VIEW MORE COMMENTARY
Today's Economic Indicators
Spain
Retail Sales
Jul. 2022: -0.7% m/m
Spain's retail sales dropped 0.7% month on month in July, building on a downwardly revised 0.3% m/m decrease in June. Euro Zone
Business and Consumer Sentiment
Aug. 2022: 97.6
Economic sentiment in the euro zone fell for the fifth month in a row to 97.6 in August from 98.9 in July. Belgium
Consumer Price Index
Aug. 2022: 9.9% y/y
Consumer price growth in Belgium further accelerated in August, clocking in at 9.9% year over year after 9.6% growth in July. Portugal
Retail Sales
Jul. 2022: 4.8% y/y
In July, Portuguese retail sales saw a slight month-on-month increase of 0.6%. Mexico
Employment Situation
Jul. 2022: 3.4% Unemployment
Mexico’s unemployment rate reported another mild monthly increase in July as activity moderated. Chile
Employment
Jul. 2022: 7.9%
The national unemployment rate averaged 7.9% in the May-July rolling quarter, down from 8.9% a year earlier. Canada
Balance of International Payments
2022Q2: C$2.7 bil
Rising commodity prices, particularly for energy, caused a swell in goods exports in the second quarter. United States
S&P CoreLogic Case-Shiller® Home Price Indexes
Jun. 2022: 18.6% y/y
House price appreciation slowed in June, as measured by the S&P CoreLogic Case-Shiller 20-City Composite Index, reinforcing May’s deceleration and cooling from its breakneck pace registered through most of 2022. United States
FHFA Purchase-Only House Price Index
Jun. 2022: 16.2% y/y
The Federal Housing Finance Agency Purchase-Only House Price Index was up 16.2% on a year-ago basis in June. United States
Job Openings and Labor Turnover Survey
Jul. 2022: 6.9% openings rate
The labor market held steady in July. United States
Conference Board Consumer Confidence
Aug. 2022: 103.2
Because of reduced inflation concerns, U.S. consumer confidence improved in August more than our above-consensus forecast had anticipated. United States
Moody’s Analytics Policy Uncertainty Index
August 26: 359.3 4-wk MA
The four-week moving average in our U.S. United States
Texas Service Sector Outlook Survey
Aug. 2022: 7.2
Texas service industries continued to grow in August, though the pace moderated slightly. South Korea
Industrial Production
Jul. 2022:
South Korea
Retail Sales
Jul. 2022:
Japan
Industrial Production
Jul. 2022:
Japan
Retail Sales
Jul. 2022:
Thailand
Industrial Production
Jul. 2022:
China
Manufacturing PMI
Aug. 2022:
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