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Macro Context

GROWTH DRIVERS
Composite PMI51.9
Manufacturing PMI50.8
Services PMI51.9
Consumer Confidence-11.7
INFLATION & JOBS
Inflation1.9%
Core Inflation2.4%
Wages3.5%
Unemployment5.8%
Hiring Expectations98.5%
MONETARY POLICY
Rate Futures50bp
Business Lending4.2
Mortgages-0.2
Quantitative tightening: flows€-7.0bn
GROWTH DRIVERS
Composite PMI51.9
Manufacturing PMI51.2
Services PMI51.7
Consumer Sentiment56.4
Weekly Economic Indicator - WEI2.6%
INFLATION & JOBS
US Inflation2.7%
Core Inflation2.7%
Wages3.8%
Unemployment4.4%
Initial jobless claims205k
Non-Farm payrolls-92k
Inflation expectations - via 5y5y FWD2.13%
Commodity prices130.2
MONETARY POLICY
FED Futures0bp
Business Lending5.3
Consumer Lending0.0
Quantitative easing: flows$7.0bn
STATUS KEY:
Great
Good
Fair
Warning
Critical

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