If Inflation Drops and Growth Slows, What Benefits?
What’s in Today’s Report:
- If Inflation Drops and Growth Slows, What Benefits? (Answer Inside)
- Why the Manheim Used Vehicle Value Index Was Important yesterday
- EIA and Oil Market Analysis
Futures are marginally higher on additional China reopening headlines, although China embarking on a re-opening process is now well known and mostly priced into stocks.
The South China Morning Post reported that Hong Kong will ease isolation rules for COVID-positive residents and travelers, in what is the latest step towards reopening.
Economic data was sparse overnight and the only notable report was Japanese GDP which slightly beat estimates (-0.2% vs. (E) -0.3%).
Today’s focus will be on weekly Jobless Claims (E: 228K) as markets need to see further deterioration in the labor market to move the Fed closer to an ultimate “pivot.” Any move towards 250k in should be welcomed by markets.
