Monday Watch

Today's Headlines

Bloomberg:            

• Xi’s Total Control in China Injects More Risk Into Chaotic World.  
• Yen Slides as Traders Turn Focus to BOJ From Intervention.  
• Traders Bet on Aussie Inflation by Driving Yields to Decade High.  
• Ukraine Latest: Russia Presses Warning of ‘Dirty Bomb’ by Kyiv.
• Johnson Pulls Out of UK Leadership Race, Leaving Sunak Ahead.
• UK Can’t Shake Pound Negativity After Weeks of Political Chaos.
  
• Credit Suisse Chief Compliance Officer Is Set to Leave Firm.
  
• Asian Shares Poised to Climb as US Futures Advance: Markets Wrap.  
• Oil Edges Higher as Tightening Market Vies With Slowdown Fears.
  
• Wall Street Is Heading to Saudi Arabia as US Oil Spat Simmers.

Wall Street Journal:

• Three New Yorkers Ordered Cocaine From the Same Delivery Service. All Died From Fentanyl.
• Companies Take Different Strategies to Navigate Inflation.
• Early Earnings Reports Fail to Ease Investors’ Worries.
• As Covid Hit, Washington Officials Traded Stocks With Exquisite Timing.
• Biden Plan to Refill Oil Reserves Raises Doubts.
• The Legal Fight Over Student-Loan Forgiveness. Biden wins in lower court, but the states have a strong case on appeal.
• France’s Nuclear Reactors Malfunction as Energy Crisis Bites.
• Asia’s Junk-Bond Issuers Are Seeking Funding Elsewhere.

Fox News:

• Chaos ensues after climate activists throw mashed potatoes at painting.

CNBC:

• ‘Anger on their minds’: NBC News poll finds sky-high interest and polarization ahead of midterms.
• Wall Street eyes auto industry earnings for signs of ‘demand destruction’.
• Movie theaters want more from Netflix, but the streaming giant isn’t ready to budge.

Zero Hedge:

• NY Judge Declares 'Vote By Mail' Law Unconstitutional.
• Russia Warns Of 'Dirty Bomb' False Flag Plot In Flurry Of Rare Calls To Western Leaders.
• Dems' Senate Worries Mount As Arizona Race Now A Dead Heat.
• How Bernanke Broke The World.
• Trump Vows To 'Take Back Our Magnificent White House' In 2024.
• Weekend News Round Up - Newsquawk Asia-Pac Market Open.
• "There Is Too Much Debt In The World, So They Must Inflate It Away, Which They Will. That's The Only Thing You Need To Know".
• Morgan Stanley Warns Banks Facing "Capital Crunch With Liquidity Squeeze On Top".
• Biden's Energy Strategy Is Seriously Backfiring Ahead Of November Elections.
• Watch: Elite US Airborne Division "Practicing For War" Near Ukraine Border.
• California Wildfires Cancel-Out Two Decades Of Emissions Reductions.
• China Congress Ends As "Dictator For LIfe" Xi Stacks Inner Circle With Loyalists; Equity Market Implications.
• Stockman: The Macroeconomic Consequences Of Lockdowns & The Aftermath.
• Rally Against 'Child Mutilation' Draws Thousands Of Supporters.
• "It's Just Not Right" - One Trader's Rage Spills Over At "Incompetent, Untrustworthy, Unaccountable" Fed.
• A "Record" Number Of Real Estate Agents Will Quit Due To Economy, Realtor Predicts.
• Dem Grip On Senate In Peril As GOP Pulling Ahead In Nevada Race.
• "Frankly Terrifying": Energy Crisis Could Drag 26M Brits Into Fuel Poverty.
• Former China President Abruptly Escorted From Party Congress.
• Elon Musk Predicts U.S. In Recession Until "Spring Of 2024".
• Iran Is Conducting "Massive" Military Drills On The Azerbaijan Border.
• The Global Inflation Outlook.
• Soros, Thornton, Hawke: New Book Details How Beijing Manipulated Western Elites.
• 401(k) Contribution Limit Leaps By Record Amount As Inflation Rages.
• China's CPC Congress Passes Resolution To Boost Armed Forces, Speed Up 'Taiwan Reunification'.

MarketWatch.com:             

• Big Tech has been an earnings refuge for years, but safety is no longer a sure thing.
  
• Who is Rishi Sunak, now the front-runner for U.K. prime minister?  
• Stock-market investors brace for busiest week of earnings season. Here’s how it stacks up so far.  
• Why stock-market investors fear ‘something else will break’ as Fed attacks inflation.  
• Airbnb hosts say bookings ‘fell off a cliff’ amid influx of new vacation rentals and rising prices.

NewsMax:

• Boris Johnson Pulls Out of Race for UK Prime Minister.  
• Blaine Holt: Xi's Installation Gives Putin Free Hand in Ukraine.

TheGatewayPundit.com:

• BIDEN ECONOMY: US Has Only 25 Days of Diesel Supply – Shortage Could Cripple Economy.
• Lisa Murkowski Says She Will Support Democrat for Alaska US Representative Race – Mitch McConnell Continues to Support Her.
• Nancy Pelosi: “When I Hear People Talk About Inflation…We Have to Change the Subject!” (VIDEO).
• BOOM! Kari Lake: “Mitch McConnell Needs to Wake Up – Republican Party is Not About Elites Like Mitch in DC” (VIDEO).
• 19 States Are Investigating Financial Institutions’ Commitment to the Globalists’ Environmental and Socialist Agenda.
• Fully Vaxxed and Boosted CDC Director Rochelle Walensky Catches COVID One Month After Her Latest Booster Shot.
• Transgender Comedian Strips Naked on Live TV Broadcast and Plays the Piano with His Penis.

The Epoch Times:

• Family Pleads as 16-Year-Old Daughter Dies in COVID-19 Quarantine in China.
• Shanghai Spends Big Money Constructing Makeshift Quarantine Facilities, Tightens COVID-19 Curbs.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 880,882 Reports(+3,155 from prior week) Through October 7th, 2022.
  

SKirsch.com:

• Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.

Covid-19(Data, Maps, Graphs):

• Our World in Data:  New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
  
• FT.com:  Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
• Bloomberg.com:  International Travel Restrictions.  Case Graphs by State.
  
• NYTimes.com:  County Trends and Clusters. Local ICU Occupancy.
  
• Brown School of Public Health:  Covid Severity by State/County(map).  US Hospital Capacity(region).
  
• CovidActNow:  Covid Severity/Infection Rate by Metro Area.
  
• KFF:  US Vaccinations by Race/Ethnicity.
  
• Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits.  Restaurant Visits. Wearing Masks. (graphs)
  
• Safegraph.com:  Commerce Patterns(graphs). 
• COVID Money Tracker. Tracking the Covid response.
  

Night Trading

• Asian indices are +1.25% to +1.75% on average.
• Asia Ex-Japan Investment Grade CDS Index 204.0 -8.0 basis points.
• China Sovereign CDS 114.0 -3.0 basis points.
• Bloomberg Emerging Markets Currency Index 46.4 -.02%.
• Bloomberg Global Risk-On/Risk Off Index 52.5 +2.0%.
• Bloomberg US Financial Conditions Index -1.31 -14.0 basis points 
  
• Volatility Index(VIX) futures 29.7 -1.1%. 
• Euro Stoxx 50 futures +1.41%.
• S&P 500 futures +.58%.
• NASDAQ 100 futures +.81%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (PHG)/.09
• (SCHN)/.46
  

After the Close:

• (BRO)/.60
• (CDNS)/.96
• (CLS)/.45
• (CR)/1.85
• (CCK)/1.78
• (DFS)/3.72
• (LOGI)/.63
• (PKG)/2.81
• (ZION)/1.59
  

Economic Releases

8:30 am EST

• Chicago Fed National Activity Index for Sept.

9:45 am EST

• S&P Global US Manufacturing PMI for Oct. is estimated to fall to 51.0 versus 52.0 in Sept.
• S&P Global US Services PMI for Oct. is estimated to rise to 49.6 versus 49.3 in Sept.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone PMI report could also impact trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are higher, boosted by technology and commodity shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon.  The Portfolio is 75% net long heading into the week.

Today's Headlines

Bloomberg:     

• China Bakes Rejection of Taiwan Independence Into Party Charter.
• America’s Chip War With China May Already Be Lost.  
• Xi Set to Dominate China Leadership After One-Time Rivals Depart.   
• TSMC Said to Suspend Work for Chinese Chip Startup Amid US Curbs.
• UK Credit-Score Outlook Revised to Negative by Moody’s on Political Drama.  
  
• Yen Intervention Sparks Speculation Over Japan’s Funding Moves.  
• Kishida Says Japan Is Monitoring FX Moves With High Vigilance.   
• Russian Oil Logistics in Chaos With Weeks Until Sanctions Bite.
• US Eyes Russia Oil Price Cap Above $60 to Keep Supply Flowing.
• The World’s Oil Buyers Are Being Crushed by a Surging Dollar.  
• Stock Manager Paranoia Is Only Thing the Market Has Going for It.  
•   Bond Market Sees No End to Worst Turbulence Since Credit Crash.
• Fed Officials Expect Debate on Rate Peak and When to Slow Hikes.    
• Halloween Candy Prices Exceed 40% for Favorites Like Skittles.
• Wall Street Warns of Trouble Brewing in Auto Loans as Prices Dip.  
• California Faces Weekend Blackouts as Winds Seen Posing Fire Risk.     
• The Bitcoin Futures ETF at 1: $1.8 Billion Lured, Over Half Lost.
• New York Adds $62 Million, Police Boost to Fight Subway Violence.
  
• ECB to Cross 2008 Rubicon With Hike Defying Slump Risk: Eco Week.
• Charting the Global Economy: UK Recession Awaits Truss Successor.
• Your Saturday Briefing: Shifting Gears.

Wall Street Journal:

• Nasdaq Freezes Chinese Small-Cap IPOs After Spikes.
• Iran’s Conservative Culture Challenged by Working Women.
• Western World’s Energy Folly in a New York Nutshell. Why should Europe have all the fun? The Empire State tries to sabotage its grid with renewables.
• The Regulators of Facebook, Google and Amazon Also Invest in the Companies’ Stocks.
• Federal Officials Trade Stock in Companies Their Agencies Oversee.
• Your Child’s First Phone: What’s the Right Age and Device?
• In the Future, There Will Be No Passwords—Because You Keep Giving Yours Away.
• Republicans Target Deep-Blue New England in Midterms.

Barron's:

• Had bullish commentary on (XOM), (WFC), (JPM), (TSLA), (PCAR) and (BP). 
• Had bearish commentary on (ZM).
  

Fox News:

• ‘The View’ hosts panic over voters not liking Democrats' pet project, instantly point fingers.
• Watch chilling moment Xi Jinping has predecessor dragged out by security.

CNBC:

• China shuffles leadership committee and retains many Xi allies.
• U.S. consumer is soldiering on despite soaring inflation and recession risk, credit card giants say.
• Russia pounds Ukraine infrastructure, power cut.

Zero Hedge: 

• Former China President Abruptly Escorted From Party Congress.
• Weaponized Governmental Failure: A Primer.
• Lawmakers Seek To Pass $50BN In New Ukraine Aid Before Next Congress.
• CDC Director Infected With COVID, Despite Max Vax And Boosters.
• US Taxpayers Funding 'Drag Theater' Shows In Ecuador To Promote 'Diversity And Inclusion': State Department. 
• Fauci, Biden Officials Ordered To Be Deposed In Social Media Collusion Case.
• Tverberg: Why Financial Approaches Won't Fix The World's Economic Problems This Time.
• Container Imports To Los Angeles And Long Beach Are Plummeting.
• Mainstream Media Poses 'Major Threat To Democracy' According To Poll.
• Macron Lashes Out At US Over Double Standard Energy Policies.
• Giorgia Meloni Tells Ex-PM Berlusconi 'Keep Your Mouth Shut' After Audio Leaks Bashing NATO.
• The Middle Class Is Dying! 50% Of All American Workers Made Less Than $3,133 A Month Last Year.
• Germany May Stave Off Worst Of Energy Crisis As Mild Temps Forecast Through Mid-November.
• How The Elites Use Your Ignorance & Their Arrogance Against You.
• UK Grid Operator Offers Households Money To Stop Using Appliances Amid Energy Crisis.
• Europe's Energy Crisis May Not End Until 2024.
• "Would've Gotten Us Killed": US Army Soldiers Head Sick After Using Microsoft's AR Goggles.
• Biden DOJ Wants $34 Million To Keep Targeting J6 Defendants.
• "Unprecedented Conduct": Ohio Supreme Court Suspends Democrat Judge.
• Chinese Lab’s Purchase Of US Land For Primate Breeding Facility Draws Scrutiny.
• Prepare For China To Invade Taiwan This Year: Top Navy Official.
• Appeals Court Halts Biden's Student Loan Forgiveness Program.
• Top Secret Meetings? A Deep Dive Into Anthony Fauci's Calendar.
• Aussie Bank Begins Linking Customer Transactions To Carbon Footprint.
• 5,000 Duplicate Ballots Sent To California Voters In Riverside County.
• "Strong As Hell" Economy Is A Mirage Of Math.
• This Chinese Chip Company Exploits Key Gap In Biden's Export Curbs.
• Arizona City Council Member Indicted For 2020 Ballot Harvesting Scheme: AG.
• World's Third-Richest Man Fed-Up With Twitterverse Tracking Him, Sells Private Jet.
• But Will Elections Change Anything?
• Fed pivot signal and Yen intervention lifts risk and hits Dollar - Newsquawk US Market Wrap.
• FedSpeak & Yentervention Spark Buying Panic In Bonds, Stocks, & Gold. 
  

MarketWatch.com:            

• Stock-market investors brace for busiest week of earnings season. Here’s how it stacks up so far.  
• Inflation protests across Europe threaten political instability.  
• The ‘pandemic boom markets’ where home price growth is slowing the most.  
• Opinion: Stocks have been rallying, but the 9 painful stages of this bear market are not even halfway done.
  

NewsMax:

• Report: Illegal Border Crossings Surge to Dangerous New Highs Under Biden.
• Victor Davis Hanson: Dems Century's First Election Deniers.
• Rep. Ronny Jackson: Subpoena to Trump 'Ridiculous'.

TheGatewayPundit.com:

• Pfizer Plans 400% Price Increase for mRNA COVID Jab After CDC Panels Recommend to Include COVID Shots for Children and Adolescents Annual Immunization Schedule. 
• Unredacted Pfizer Agreement from FOIA Request with Slovenian Government Reveals “Long-Term Effects and Efficacy of the Vaccine are Not Currently Known” and There Might be “Adverse Effects”. 
• Doctors are Baffled After 18-Year-Old Athlete Suffers Cardiac Arrest During Tennis Practice.
• HERE WE GO… LEFTISTS OUTRAGED After Men in Tactical Gear Were Filmed Watching Yuma Ballot Drop Boxes. 
• “IF THE ELECTION IS FAIR, Kari Lake’s Going To Win” – WATCH: Tucker Carlson Dedicates Entire Opening Monologue To Kari Lake (VIDEO).  
• McConnell Pulls Money From GOP Senate Candidate In Close Race — And Gives it To Murkowski?
• “Young People are Just Dying These Days” – Red Hot Chili Peppers Lead Vocalist Talks About a Fan Who “Died Suddenly” on Joe Rogan Show.
• EXCLUSIVE INTERVIEW: EcoHealth Whistleblower Dr. Andrew Huff: They Created the COVID-19 Virus Using Gain of Function in a Number of Laboratories and They Covered It Up (VIDEO).
• New Normal: Gloucester, England Installs New Defibrillators Around City.
• Canadians Can No Longer Legally Buy, Sell, or Transfer Handguns asTrudeau Orders Immediate Freeze on the Sale of Handguns (VIDEO).
• Here’s UPDATED List of Republican Governors Who Won’t Comply with CDC Mandates to Force COVID-19 Vaccination on Kids for School.
• AZ Secretary of State And Democrat Gubernatorial Nominee Katie Hobbs Showed Up To Her Office Just 19 Days In Past 6 Months. 
• Joe Biden as He Prepares to Depart for Another Weekend Vacation in Delaware: Democrats “Have a Great Record” On Crime (VIDEO). 
• HORROR: Two Minor Teens – 13 and 15 Yrs Old – Raped After Exiting SEPTA Train in Philly.
• John Fetterman: Murderers Serving Time in Prison Are “Like Your Grandfather” (VIDEO). 
  

The Epoch Times:

• CCP Seeks to Use TikTok Data Against Americans: Former Pentagon Official.

Twitter:

• @IGSquawk - Weekend markets update: #DAX 12846 -0.12% #DOW 31101 -0.16% #NASDAQ 11319 -0.13% #FTSE 7004 0.00% #HANGSENG 16450 -0.13% #GBPUSD 11320 +0.19% #EURUSD 9860 -0.01% #USDJPY 14766 0.00%.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 877,727 Reports(+5,890 from prior week) Through September 30th, 2022. 

SKirsch.com:

• Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.

Covid-19(Data, Maps, Graphs):

• Our World in Data:  New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
  
• FT.com:  Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
• Bloomberg.com:  International Travel Restrictions.  Case Graphs by State.
  
• NYTimes.com:  County Trends and Clusters. Local ICU Occupancy.
  
• Brown School of Public Health:  Covid Severity by State/County(map).  US Hospital Capacity(region).
  
• CovidActNow:  Covid Severity/Infection Rate by Metro Area.
  
• KFF:  US Vaccinations by Race/Ethnicity.
  
• Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits.  Restaurant Visits. Wearing Masks. (graphs)
  
• Safegraph.com:  Commerce Patterns(graphs).

Weekly Scoreboard*

 

S&P 500 3,741.13 +4.2%

 

 

 

 

 

 

 

 

 

 

 

 

Weekly Market Wrap by Edward Jones.

Indices

• DJIA 30,932.65 +4.5%

• NASDAQ 10,792.76 +4.8%

• Russell 2000 1,738.38 +3.1%

• S&P 500 High Beta 59.39 +5.3%

• Goldman 50 Most Shorted 159.54 +1.7%

• Wilshire 5000 37,501.12 +4.2%

• Russell 1000 Growth 2,187.12 +4.7%

• Russell 1000 Value 1,409.04 +3.5%

• S&P 500 Consumer Staples 716.01 +2.0%

• MSCI Cyclicals-Defensives Spread 1,042.92 +1.9%
  

• NYSE Technology 2,549.94 +7.1%

• Transports 12,636.91 +1.3%

• Utilities 867.24 +2.5%

• Bloomberg European Bank/Financial Services 68.6 +3.6%

• MSCI Emerging Markets 35.09 +2.4%

• HFRX Equity Hedge 1,431.96 +.43%

• HFRX Equity Market Neutral 919.01 +.04%

Sentiment/Internals

• NYSE Cumulative A/D Line 434,320 -.37%

• Bloomberg New Highs-Lows Index -770 +2,079
  

• Crude Oil Commercial Bullish % Net Position -32.7 -6.2%

• CFTC Oil Net Speculative Position 259,220 +7.1%

• CFTC Oil Total Open Interest 1,499,498 +.26%

• Total Put/Call .94 +4.4%

• OEX Put/Call .92 +10.2%

• ISE Sentiment 100.0 +2.0 points
  

• NYSE Arms .57 -65.3% 
• Bloomberg Global Risk-On/Risk-Off Index 52.0 +6.8%
• Bloomberg Financial Conditions Index + Bubbles 1.54 -5.0 basis points
  

• Volatility(VIX) 29.8 -7.1%
• DJIA Intraday % Swing 2.59% -5.8%

• CBOE S&P 500 Implied Correlation Index 54.0 +3.8%

• G7 Currency Volatility (VXY) 13.1 +3.0%
  

• Emerging Markets Currency Volatility (EM-VXY) 12.6 +.24%

• Smart Money Flow Index 13,589.61 -6.7%
• NAAIM Exposure Index  43.3 +23.5 points
  

• ICI Money Mkt Mutual Fund Assets $4.585 Trillion -.08%

• ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows +$.365 Million

• AAII % Bulls 22.6 +10.8%

• AAII % Bears 56.2 +.5%

Futures Spot Prices

• CRB Index 271.72 -1.8%

• Crude Oil 85.0 -.68%

• Reformulated Gasoline 265.95 +1.2%

• Natural Gas 5.0 -23.2%
• Dutch TTF Nat Gas(European benchmark) 113.6 euros/megawatt-hour -19.9%
  

• Heating Oil 382.79 -3.8% 
• Newcastle Coal 394.5 (1,000/metric ton) -.3%
  

• Gold 1,652.69 +.48%
• Silver 19.21 +5.0%
  

• S&P GSCI Industrial Metals Index 406.50 -1.12%

• Copper 347.45 +2.1%

• US No. 1 Heavy Melt Scrap Steel 365.0 USD/Metric Tonne +.6%

• China Iron Ore Spot 91.50 USD/Metric Tonne -.3%

• Lumber  540.80 +9.8%

• UBS-Bloomberg Agriculture 1,504.22 -.65%
• US Gulf NOLA Potash Spot 575.0 USD/Short Ton -.86%
  

Economy

• Atlanta Fed GDPNow Forecast +2.85% -4.0 basis points
  

• ECRI Weekly Leading Economic Index Growth Rate -13.0% -1.0 percentage point
  
• Bloomberg US Recession Probability Next 12 Months 60.0% unch.
  

• NY Fed Real-Time Weekly Economic Index 1.74 -8.4%

• US Economic Policy Uncertainty Index 87.25 -29.4%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 234.26 -.93:  Growth Rate +15.1% -.2 percentage point, P/E 15.8 +.4 point

• Citi US Economic Surprise Index 25.5 +8.1 points

• Citi Eurozone Economic Surprise Index 22.3 +16.6 points

• Citi Emerging Markets Economic Surprise Index -6.4 -2.7 points

• Fed Fund Futures imply 0.0%(unch.) chance of +25.0 basis point rate hike, 12.6%(+11.0 percentage points) chance of +50.0 basis point hike and 87.4%(-11.0 percentage points) chance of +75.0 basis point hike on 11/2 to 3.75-4.0%
  

• US Dollar Index 112.0 -1.2%

• MSCI Emerging Markets Currency Index 1,580.46 -.23%
  

• Bitcoin/USD 19,128.8 -1.06%

• Euro/Yen Carry Return Index 149.51 +.20%
  

• Yield Curve(2s/10s) -29.0 +19.25 basis points
  

• 10-Year US Treasury Yield 4.20% +18.0 basis points
  

• Federal Reserve's Balance Sheet $8.709 Trillion -.17%

• U.S. Sovereign Debt Credit Default Swap 30.04 +.03%
  

• Illinois Municipal Debt Credit Default Swap 210.76 -3.7%
  

• Italian/German 10Y Yld Spread 233.0 -12.0 basis points
• UK Sovereign Debt Credit Default Swap 33.92 -21.0%
  

• China Sovereign Debt Credit Default Swap 119.83 +9.6%
  

• Brazil Sovereign Debt Credit Default Swap 294.13 -5.7%
  

• Israel Sovereign Debt Credit Default Swap 39.44 -.5%

• South Korea Sovereign Debt Credit Default Swap 64.97 +4.6%

• China Corp. High-Yield Bond USD ETF(KHYB) 24.53 -1.2%

• Atlanta Fed Low Skill Wage Growth Tracker YoY +6.4% unch.
  
• Zillow US All Homes Rent Index YoY +11.0% unch.
  
• US Urban Consumers Food CPI YoY +11.2% unch.
  
• Cleveland Fed Inflation Nowcast Core PCE YoY +5.16% unch.: CPI YoY +8.14% +1.0 basis point
  
• 10-Year TIPS Spread 2.56% +17.0 basis points

• TED Spread 39.0 +3.0 basis points

• 2-Year Swap Spread 38.25 +1.75 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -63.0 +6.75 basis points

• N. America Investment Grade Credit Default Swap Index 96.22 -7.7%
  

• America Energy Sector High-Yield Credit Default Swap Index 351.0 -4.2% 
• Bloomberg TRACE # Distressed Bonds Traded 426.0 -19.0
  

• European Financial Sector Credit Default Swap Index 125.93 -6.5%
• Credit Suisse Subordinated 5Y Credit Default Swap 355.3 -16.7%

• Emerging Markets Credit Default Swap Index 316.82 -5.6%
  

• MBS 5/10 Treasury Spread 170.0 -7.0 basis points
  
• iShares CMBS ETF 44.89 -.81%
• Avg. Auto ABS OAS .91 +8.0 basis points

• M2 Money Supply YoY % Change 4.1 unch.
  

• Commercial Paper Outstanding 1,286.9 +2.5%

• 4-Week Moving Average of Jobless Claims 212,250 +.59%
  

• Continuing Claims Unemployment Rate 1.0% unch.
  
• Kastle Back-to-Work Barometer(entries in secured buildings) 49.0 +3.4%
  

• Average 30-Year Fixed Home Mortgage Rate 7.32% +15.0 basis points
  

• Weekly Mortgage Applications 214,300 -2.01%

• Weekly Retail Sales +8.1% -20.0 basis points
  
• OpenTable US Seated Diners % Change from 2019 -2.4% -2.8 percentage points
• Box Office Weekly Gross $81.8M -7.2%
  

• Nationwide Gas $3.82/gallon -.08/gallon

• Baltic Dry Index 1,818 -7.3%

• China (Export) Containerized Freight Index 2,026.26 unch.

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 57.5 +21.0%
• Truckstop.com Market Demand Index 49.3 -11.6%

• Rail Freight Carloads 263,041 +.6%
• TSA Total Traveler Throughput 2,418,287 +19.4%
• US Covid-19:  126 infections/100K people(last 7 days total). 7.2%(+2.4 percentage points) of peak on 1/14/22(1,740) +42/100K people from prior report
  
• US Covid-19:  New patient hospital admissions per 100K -85.3%(-.5 percentage point) from peak 7-day avg. of 1/9/22-1/15/22
  

Best Performing Style

• Large-Cap Growth +4.2%

Worst Performing Style

•  Mid-Cap Value +2.3%
  

Leading Sectors

• Oil Service +13.7%

• Steel +8.4%
  

• Energy +7.7%

• Networking +7.7%

• Defense +7.2%
  

Lagging Sectors

• Alt Energy +.1%
  

• Homebuilders unch.
  

• Banks -.3%

• Road & Rail -1.6%
  

• Social Media -1.8%
  

Weekly High-Volume Stock Gainers (20)

• AMPX, VRE, BHVN, SLB, NOV, NFLX, FROG, STLD, HAL, EEFT, STT, TROX, BJRI, TLS, CECE, LHX, GS and PARR
  

Weekly High-Volume Stock Losers (26)

• PLNT, RF, SNV, SBNY, EWCZ, SI, BRZE, TCDA, RCM, ROKU, PACW, ACHC, UPST, CRK, FFIN, OZK, BL, RRC, CVBF, WAL, AR, EQT, U, MPW, RHI and SIVB
  

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change