Market Moment

The Baker Market Moment is your way to stay on top of the latest in economic events and market-moving news. Whether it’s the latest news from the Fed or the latest number from Wall Street, the Baker Market Moment is where you can find it.

Muted Inflation Report

The Bureau of Labor Statistics released its January report on consumer inflation this morning and its content still portrays subdued degrees of price level changes. The Consumer Price Index rose 0.3% as expected last month while December’s rise of 0.4% was revised to just 0.2%. Year-over-year, headline CPI remained at

View

Business Optimism Falls

The day has begun with a not-so-positive report from the National Federation of Independent Businesses revealing that its Small Business Optimism Index fell unexpectedly to 95 last month from its December level of 95.9. Analysts were looking for some improvement to 97. Later this morning, the BLS will publish its

View

Long Bond Sneaks Up On 2%

Treasury Secretary Janet Yellen appeared on some Sunday talk shows yesterday and expressed her belief that our economy can return to full employment in 2022 if the covid-relief plan currently under consideration is implemented. Her remarks appear to have sparked a global rally in equities while inducing a mild sell-off

View

Jobs Report Highlights

The Bureau of Labor Statistics released its Jobs Report for January this morning and while job growth was disappointing, the Unemployment Rate came in four-tenths lower at 6.3%. Non-Farm Payrolls rose by 49k against an expectation of 105k as the prior month’s loss of 140k jobs was revised to a

View

Initial Claims Fall For Third Week in a Row

The Bureau of Labor Statistics reported this morning that Initial Jobless Claims for the week ending January 30th totaled 779k and that was less than the 830k that was forecast and also less than the prior week’s downwardly revised 812k. This marks the third consecutive week of falling Initial Claims.

View

Early Jobs Report Comes in Strong

The ADP Employment Change Report for January was just released and revealed that private, Non-Farm Payrolls grew by 174k in January and that significantly beat the pre-release estimate of 70k. December’s job loss of 123k was revised to a smaller loss of 78k. Friday’s BLS report is also expecting a

View

Treasuries Lower as Reddit Panic Subsides

There are no numbers on the calendar this morning, but the pre-market equity rally and sell-off in Treasuries is being blamed on evaporating fears of unwelcome volatility caused by retail investors over the past several days. Or, maybe it’s because it’s Groundhog Day and the reclusive rodent got spooked by

View

Treasuries Off to a Slow Start

While frantic commodity traders run the price of silver up to an eight-year high, the Treasury market is beginning the week a little more sedately. Prices are slightly weaker, but not enough to cause much of a change in yields. The Ten-Year is trading around 1.07% with the Long Bond

View

Personal Income Rises With Inflation

In a report this morning, the Bureau of Economic Analysis announced that Personal Income rose by a higher-than-expected 0.6% last month as November’s 1.1% decline was revised to a 1.3% decline. For December, forecasters were only expecting a boost of 0.1%. The 0.2% fall in Personal Spending was less than

View

Jobless Claims Lower Than Expected

Lots of numbers this morning beginning with the BLS report on Jobless Claims. Initial Claims for the week ending January 23rd totaled 847k and that was less than the 875k that was expected and also less than the prior week’s upwardly revised 914k. Continuing Claims for the week ending January

View

Treasury Rally Continues

Bond prices were already slightly higher in this morning’s early trading even before some mixed data was released by the Census Bureau. But prior to that, the Mortgage Bankers Association reported that new Mortgage Applications fell 4.1% for the week ending January 22nd. A little later, the Census Bureau reported

View

Home Prices Rose More Than Expected in November

The FHFA just released its November House Price Index and that measure rose 1% against an expectation of 0.8%. October’s rise was 1.5%. The CoreLogic Case-Shiller 20-City Price Index was also published this morning and it recorded a 1.42% November rise that took the year-over-year growth rate in prices to

View

Treasuries Rise As Equities Slip

Prices of Treasury bonds are slightly higher this morning as markets await a news-filled week that includes the Fed’s first meeting of the year. The Ten-Year’s yield is down a few basis points to 1.06% while the Long Bond has drifted down to 1.81%. The Two-Year anchors the short-end at

View

Investors Turn Cautious Overnight

Reports of more lockdowns and restrictions across Europe along with a slow vaccine roll-out have helped spark a touch of risk aversion across financial markets this morning. Warnings by the European Central Bank of a possible double-dip recessions haven’t helped either. Treasury prices are up slightly all along the yield

View

Inauguration Day Starts Quietly

Outside of big events in Washington, D.C., it’s looking to be a pretty quiet day. Earlier this morning, the Mortgage Bankers Association announced that new Mortgage Applications fell 1.9% for the week ending January 15th. A little later, the National Association of Home Builders will publish its Housing Market Index

View