Meet The New Year, Same As The Old Year

36
Mon, Jan 3, 2022 - 10:53am

Yikes! This is no fun and definitely not how we envisioned the start of the new year.

So welcome back, everyone. I hope you have a safe and fun weekend. And I hope you're ready for a wild and volatile 2022. Things have gotten off to a lousy start today so let's try to figure out why.

You don't have to look far to find the culprit and it's the usual suspects. These are pretty extreme moves in both bonds and the POSX. Note that the yield on the 10-year note is up over TEN basis points to the highest level since late November. Also note that the POSX is up over 60¢ with...

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Key Economic Events Week of 1/24

1/24 9:45 ET Markit Flash PMIs for January
1/25 9:00 ET Case-Swiller home prices
1/25 10:00 ET Consumer Confidence
1/26 2:00 ET FOMC Fedlines
1/26 2:30 ET CGP presser
1/27 8:30 ET Q4 GDP first guess
1/27 8:30 ET Durable Goods
1/28 8:30 ET Personal Income and Spending
1/28 8:30 ET Core PCE
1/28 10:00 ET UMich 5-yr Inflation Expectations

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