| Today's Economy
Economic Roundup: Inflation's Guiding Light Inflation is increasingly important in assessing where the Fed is headed. Outstandings of High-Yield Bonds Are Now 10% Under Fourth-Quarter 2016’s Zenith The outstandings of U.S. high-yield corporate bonds have now declined from their year-earlier mark for nine consecutive quarters. The Case for U.S. Core Inflation to Move Closer to 2% This Year Some of the weights on inflation will lift, but the Fed shouldn't and won't respond until 2020. Europe Daily Briefing: U.K. GDP Surprises Again Industrial production in Italy and France posted solid gains. » VIEW MORE TODAY'S ECONOMY
Commentary
Changing Our Fed Call We now look for no rate hikes this year and one in 2020. Debt Ceiling Tracker: Extraordinary Times, Extraordinary Measures The Treasury will not exhaust its borrowing capacity until October 3. U.S. Chartbook: The Economy's Still Got It A run of solid data tempered concerns about a downturn. U.S. Weekly Highlights and Preview, April 5, 2019 The week is all about inflation. » VIEW MORE COMMENTARY
Today's Economic Indicators
World
Moody's Analytics Global CPI
Mar. 2019: 0.5%
Higher energy prices boosted global inflation in March, but the monetary implications for central banks in developed economies are not significant. France
Industrial Production
Feb. 2019: 0.4%
Beating all forecasts, France’s industrial production rose by 0.4% m/m in February, following a downwardly revised reading of 1.2% in January. United Kingdom
Monthly GDP
Feb. 2019: 0.2%
The U.K. Italy
Industrial Production
Feb. 2019: 0.8%
Italy’s industrial production rose 0.8% m/m in February, building on January’s strong 1.9% gain. Brazil
Consumer Price Index
Mar. 2019: 4.58%
Annual inflation rebounded in March as prices of food and beverages and transportation increased strongly. United States
MBA Mortgage Applications Survey
April 05: -5.6%
The top-line market index fell 5.6% in the week ending April 5. Euro Zone
Monetary Policy
Apr. 2019: 0.0%
The European Central Bank left policy rates unchanged at its April meeting, which was widely expected. United States
Consumer Price Index
Mar. 2019: 0.4%
The March consumer price index won’t cause the Federal Reserve to be less dovish, but it does suggest that the bond market's increased bets on a rate cut late this year or early next are premature and overdone. United States
Oil Inventories
April 05: 456.6 mil barrels
A much-larger-than-expected increase in oil inventories will put downward pressure on oil prices. China
Foreign Trade
Mar. 2019:
China
Monetary Aggregates
Mar. 2019:
United States
FOMC Minutes
Mar. 2019:
The minutes of the latest Federal Open Market Committee meeting don’t appear to contain much news. United States
Treasury Budget
Mar. 2019: -$146.9 bil
The federal government has incurred a cumulative budget deficit of $691.2 billion in the first half of fiscal 2019, compared with $599.7 billion over the same period last fiscal year. China
Producer Price Index
Mar. 2019:
China
Consumer Price Index
Mar. 2019:
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