Monday Morning Meeting Notes (11/14/2022)
Bradley Prosper, CFA®, CFP® Weekly Economic Insights
Monday Morning Meeting Notes (11/14/2022)
General Info:
- To the delight of equity and fixed income markets, U.S. consumer price index (CPI) slowed in October
- CPI declined from 8.2% in September to 7.7% in October (vs. expectations of 7.9%)
- Core CPI declined from 6.6% in September to 6.3% in October (vs. expectations of 6.5%)
- Financial markets responded strongly to the lower-than-expected inflation as market participants took it as a sign that the rate hikes are starting to have an impact on inflation so fewer hikes may be needed in the coming months
- A federal judge in Texas declared the student debt relief program illegal on Thursday, so the Department of Education took down the debt relief application
- The Department of Education is appealing the decision and will hold onto the 26 million applications it’s already received
- Fun Fact: George Washington opened a whiskey distillery after his presidency. By 1799, his distillery was one of the largest in the country, producing 11,000 gallons of whiskey. Today, bottles of Washington’s whiskey are still produced at Mount Vernon using 18th-century distilling methods and techniques
Monday 11/14:
- Deadline for hedge funds to report their 13F (holdings disclosure) for the third quarter
- Eurozone industrial production
Tuesday 11/15:
- Home Depot and Walmart report earnings
- U.S. producer price index (PPI) data for October
- China reports retail sales, industrial production, and unemployment data
- Eurozone GDP data, which is expected to sow 2.1% year-over-year growth
Wednesday 11/16:
- Tencent, Target, and Lowe’s report earnings
- U.S. retail sales and industrial production data for October
- U.K. CPI data for October, which is expected to rise to 10.7% (vs. September’s 10.1%)
- European Central Bank (ECB) Financial Stability Review
Thursday 11/17:
- Alibaba reports earnings
- Eurozone CPI data for October, which is expected to rise to 10.7% (vs. September’s 9.9%)
- U.S. housing starts
- U.S. initial jobless claims and continuing claims data
Friday 11/18:
- U.S. Conference Board leading index
- U.S. existing home sales
About the Author
Bradley Prosper, CFA®, CFP®
Senior Research Analyst
Mr. Prosper is a member of the Firm’s investment research group where he assists in conducting investment research that is instrumental in the construction, maintenance, and management of client portfolios. This research includes the procurement of primary data via direct investment manager interviews as well as analyzing information from our data resources.