Good Tuesday AM,

Hope your week’s off to a good start.

Bonds are kind of stalling out right here at the current level, waiting on inflation data tomorrow. Tomorrow, we get CPI and anything can happen. I think you’re okay floating today. I don’t expect much to happen, but tomorrow is going to be a very risky data float. The market’s looking for a very low core number tomorrow. It would be the second month in a row that we came in at .2. While I expect the number to be low, it is possible for there to be a momentary uptick at any time. This would be bad for markets. The non-core number is easier to manage, and the market is looking for .6. Remember this includes food and oil and then think about what’s happening with oil. As we speak. So I do expect this number to come in high, but the market’s going to be much more focused on the core. Tough to float into this week’s data.

In our rate favor…

Americans are becoming more worried about getting laid off. The Federal Reserve Bank of New York’s August Survey of Consumer Expectations found that, on average, 13.8% of workers expected to lose their job over the next 12 months, the highest reading since April 2021. Concerns were greatest among people with lower incomes or less education.

And a clear sign of the economy slowing…

With inflation straining wallets, pet parents have already been cutting their spending, particularly when it comes to discretionary products such as toys. Now, with the cost of pet food up nearly 11% from a year ago, according to the July consumer-price index, animal owners are trading down from more expensive gourmet brands or shifting to smaller pack sizes, Jennifer Williams-Alvarez reports.

Please remain safe and healthy, make today great!