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January 21, 2022 By Peter Boockvar

Succinct Summation of the Week’s Events – 1/21

Positives 1)The January Philly index rose to 23.2 from 15.4 and that was 4 pts better than expected. Looking at the coming 6 months, the business outlook got back what it lost last month. Inflation expectations grew further. For prices paid, the outlook jumped by 22.6 pts to the highest since 1988. For those received, expectations rose 7.7 pts to a 5 month high. …

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January 14, 2022 By Peter Boockvar

Succinct Summation of the Week’s Events – 1/14

Positives 1)Delayed by a week and likely distorted by the holidays, continuing claims fell to 1.56mm, well less than the estimate of 1.733mm and down from 1.753mm in the week prior. 2)Cass Freight said its shipments index for December rose 7.7% y/o/y after a 4.5% growth rate in November while little changed m/o/m. It did though rise 4.2% from November when they …

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January 7, 2022 By Peter Boockvar

Succinct Summation of the Week’s Events – 1/7

Positives 1)The household survey in the BLS payroll data said 651k jobs were added after 1.1mm in November. Combine this with a rise of 168k in the labor force and the unemployment rate now has a 3 handle at 3.9%. This compares with 3.5% in February 2020. The all inclusive U6 rate dropped 4 tenths to 7.3% and this was 7% in February 2020. Average hourly hours …

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December 31, 2021 By Peter Boockvar

Succinct Summation of the Week’s Events – 12/31

I want to thank you so much for taking the time and interest to read my daily comments as I know you get a ton of stuff each day. Happy and healthy 2022 and get some rest this weekend as it's going to be a really interesting and eventful new year, as it always is.  //www.youtube.com/watch?v=tK8KX9V7y98 Succinct Summation of the Week's …

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December 17, 2021 By Peter Boockvar

Succinct Summation of the Week’s Events – 12/17

Positives 1)While still adding to their balance sheet, while not getting around to raising interest rates, which is the most direct tool in containing inflation, until maybe March at the earliest, the Fed has finally woken up to the high inflation that they have contributed to and now preside over. 2)This week we saw rate hikes from the Bank of England, Norges …

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December 10, 2021 By Peter Boockvar

Succinct Summation of the Week’s Events – 12/10

Positives 1)Initial jobless claims fell back below 200k at 184k and there is no seasonal adjustments around a holiday to blame. That is down from 227k last week. The 4 week average fell to 219k from 240k and that compares with 210k at the end of January 2020. Delayed by a week, continuing claims rose by 38k after 3 weeks of declines in November which totaled 255k. …

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December 3, 2021 By Peter Boockvar

Succinct Summation of the Week’s Events – 12/3

Positives 1)The household survey in stark contrast to the BLS establishment survey saw a large 1.136mm job gain and combined with the increase in the labor force of 594k, the unemployment rate fell 4 tenths m/o/m to just 4.2% vs 4.4% in March 2020 and 3.5% in the two months before that. The U6 rate declined by 5 tenths to 7.8% vs 8.8% in March 2020 and 7% in …

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November 26, 2021 By Peter Boockvar

Succinct Summation of the Week’s Events – 11/26

Positives 1)Initial jobless claims fell to just 199k, well below the estimate of 260k and down from 268k last week. That's the lowest print since the summer of 1969. Delayed by a week, continuing claims fell by another 60k to a fresh post Covid low at 2.049mm. 2)Personal income in October rose .5% m/o/m, 3 tenths more than expected. Specifically looking at …

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November 19, 2021 By Peter Boockvar

Succinct Summation of the Week’s Events – 11/19

Positives 1)Initial jobless claims totaled 268k, 8k more than expected and after a print of 269k last week. This though brings the 4 week average down to 273k from 279k, a post Covid low. Continuing claims, delayed by a week, fell by 129k to 2.08mm, also a new post Covid low. 2)Core retail sales in October rose by 1.6% m/o/m, above the estimate of up .9% partly …

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November 12, 2021 By Peter Boockvar

Succinct Summation of the Week’s Events – 11/12

Positives 1)Initial jobless claims fell to a fresh post Covid low at 267k and lower w/o/w for the 6th straight week. That though was 7k more than expected. 2)The 8 bps drop in mortgage rates and 14 bps over the past 2 weeks helped to lift mortgage applications. Purchases rose 2.7% w/o/w but remain down by 4.1% y/o/y on tough comps and a moderating pace of …

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About Peter

Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor. Each day The Boock Report provides summaries and commentary on the macro data and news that matter, with analysis of what it all means and how it fits together.

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Disclaimer - Peter Boockvar is an independent economist and market strategist. The Boock Report is independently produced by Peter Boockvar. Peter Boockvar is also the Chief Investment Officer of Bleakley Financial Group, LLC a Registered Investment Adviser. The Boock Report and Bleakley Financial Group, LLC are separate entities. Content contained in The Boock Report newsletters should not be construed as investment advice offered by Bleakley Financial Group, LLC or Peter Boockvar. This market commentary is for informational purposes only and is not meant to constitute a recommendation of any particular investment, security, portfolio of securities, transaction or investment strategy. The views expressed in this commentary should not be taken as advice to buy, sell or hold any security. To the extent any of the content published as part of this commentary may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. No chart, graph, or other figure provided should be used to determine which securities to buy or sell. Consult your advisor about what is best for you.

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