• The manufacturing index showed robust factory activity across the US this month.
  • Export orders picked up momentum.
  • Manufacturers are rapidly boosting prices.
  • The services PMI measure was much less upbeat, with price pressures hitting extreme levels.
  • As we saw last week, the Philly Fed’s report showed supplier delays peaking. And manufacturers expect bottlenecks to ease further in the months ahead.
  • Slower demand should begin to alleviate inflationary pressures.
  • And tighter financial conditions are expected to lessen demand, as the Fed’s tightening and other factors chip away at US liquidity

 

 

  • Household budgets have been squeezed by inflation.

 

 

Market Data

 

  • Stocks are under pressure from the Fed’s rate hike “front-loading,” as financial conditions tighten.

 

Quote of the Week

 

If the world was flat, cats would have pushed everthing off long ago.

 

Picture of the Week

 

 

 

All content is the opinion of Brian J. Decker