| Today's Economy
Capital Market View: Inflation Surprises Hurt Historically, assets performed significantly worse during periods of positive inflation surprises. U.S. Supply-Chain Stress Rises Our index shows pressure growing because of China's zero-COVID policy and geopolitics in Eastern Europe. Euro Zone: Good News is Illusionary Detailed data in the final CPI release confirms that inflation is getting worse. Europe Daily Briefing: U.K. Inflation Hits Record in April The U.K.’s inflation rate jumped 2 percentage points on the back of higher energy costs. » VIEW MORE TODAY'S ECONOMY
Commentary
U.K. Inflation Highest in G-7 Spiralling natural gas prices are mainly to blame, but prices are rising everywhere. Japan Risk Matrix Update: The Bumpy Road COVID-19 is weighing on household and business spending, keeping demand weak and GDP below pre-pandemic levels. Mixed Signals on U.S. Regional Inflation Monthly price increases in the Northeast were the nation’s highest last month. Euro Zone Risk Matrix Update: No Ignoring Sovereign Debt With policy rates rising, the mountains of debt issued by states during the past years will become increasingly more expensive. » VIEW MORE COMMENTARY
Today's Economic Indicators
Austria
Consumer Price Index
Apr. 2022: 7.2% y/y
Bloated by the transportation segment, consumer prices increased 7.2% y/y in April, exceeding March's 6.8% y/y rate. United Kingdom
Consumer Price Index
Apr. 2022: 9.0% y/y
The U.K. Euro Zone
Consumer Price Index
Apr. 2022: 7.4% y/y
The euro zone’s harmonized index of consumer prices for April was revised down from the preliminary estimate. United States
MBA Mortgage Applications Survey
May 13: -11%
Mortgage application volume contracted sharply in the week ended May 13, falling 11% from the previous week. United States
New Residential Construction (C20)
Apr. 2022: 1.724 mil, SAAR
The noticeable increase in mortgage rates is cutting into U.S. residential investment. Canada
Consumer Price Index
Apr. 2022: 6.8% y/y
Though gasoline prices edged down in April, previous increases in energy prices are spilling over into other product groups via higher input costs for firms. Chile
GDP
2022Q1: 7.2% y/y
As expected, Chile’s economy slowed down in the first quarter in annual and quarterly terms as the economy faced unfavorable conditions. United States
Oil Inventories
May 13: 420.8 mil barrels
A larger-than-expected draw in oil inventories should put some downward pressure on oil prices but is unlikely to reduce prices significantly in the face of the Russian invasion of Ukraine. Japan
Machinery Orders
Mar. 2022:
Japan
Foreign Trade
Apr. 2022:
China
Foreign Trade
Apr. 2022:
Australia
Employment Situation
Apr. 2022:
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