| Today's Economy
Capital Market View: Keep on Widening U.S. high-yield corporate bond spreads continue to normalize. LatAm Daily Briefing: Mexico’s Inflation Requires Another Monetary Dose The central bank reaches into its toolkit to protect the peso’s purchasing power. Europe Daily Briefing: Car Industry Still Ailing EU car registrations plunged further in January. Asia-Pacific Daily Briefing: Japan's Trade Woes Persist Higher commodity prices are causing the trade deficit to widen. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Risk Matrix Update: Policy Error Watch Markets appear focused on comments by hawkish regional Fed presidents. U.S. Road to Recovery: No Easy Path Inflation should moderate this year but will remain elevated, and that makes the Fed’s job extremely difficult. The U.S. Goods Addiction Is Real Year-over-year growth in goods prices is more than 12%, whereas annual services inflation is running at less than 5%. Global Vaccine Tracker: Hong Kong Battles Omicron Caseloads have been rising since a local virus cluster was first detected in late December. » VIEW MORE COMMENTARY
Today's Economic Indicators
Netherlands
Unemployment
Jan. 2022: 3.6%
The Dutch labor market tightened further in January. Ireland
Consumer Price Index
Jan. 2022: 5.0% y/y
Ireland’s inflation stayed high despite dropping to 5% in January from 5.5% in December. United States
Jobless Claims
February 12: 248,000
U.S. initial claims for unemployment insurance unexpectedly increased from a revised 225,000 (previously 223,000) to 248,000 in the week ended February 12. United States
Philadelphia Fed Survey
Feb. 2022: 16.0
The Manufacturing Business Outlook from the Philly Fed shows factory activity remained elevated in February, though things cooled a bit. United States
New Residential Construction (C20)
Jan. 2022: 1.638 mil, SAAR
Weather was a drag on housing starts in January as they fell 4.1% to 1.638 million annualized units. Canada
International Transactions in Securities
Dec. 2021: C$37.6 bil
Foreign investment in Canadian securities ended the year on a high note. United States
St. Louis Fed Financial Stress Index
February 11: -0.91
Financial market stress decreased again last week. United States
Natural Gas Storage Report
February 11: -190 bil cubic feet
Last week’s draw in natural gas stocks was slightly below analyst expectations, suggesting that this report could put some downward pressure on currently high gas prices. Japan
Consumer Price Index
Jan. 2022:
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