With the inflation data and US Treasury auctions behind us the focus this week will be on retail sales, housing, and the FOMC Minutes. There remains, many moving pieces globally; China, Russia, Japan, currency moves, and geo-political risks. Commodity prices again moving higher along with higher long end real and nominal yields. A continued move in long end real yields will begin to bite. But look for little pushback or alleviation from this Fed as disinflationary forces welcomed but core inflation still too high. We are “higher for longer” at a minimal and likely to hear this week the continued potential for one more rate hike in 2023.

Have a great week!

Listen to Monday Minutes with Gregory Faranello, CFA–Head of U.S. Rates at AmeriVet Securities.