#natgas The way I digest EIA: I'd look at the very bottom right-hand corner number, which is % change compared to 5 yr avg. We've: (Wk-week
Wk 15: 41
Wk 16: 37
Wk 17: 34
Wk 18: 33.3
Wk 19: 30.8
Wk 20: 28.8
At this rate, we'll catch up with 5 yr avg. by mid Aug.
Bullish.
Core inflation came in as expected, but the monthly value was driven by a big pop in shelter inflation offset by negative core goods. And after a few months where non-housing services was below pre-pandemic levels, we have a 2nd month of slightly higher values.
Let's dig in. /1
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The stock is MongoDB $MDB…
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🚨 🇺🇸 US Treasury #COT index has reached a new historic low, making shorting US Treasury bonds one of the hottest trades.
This drop is driven by the replenishment of TGA and the expected increase in the terminal interest rate. #Fed#FOMC
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8) We'll need to track this ADP jobs data in future months to see if the regional trends hold.
Their sample is based off 500k companies with private payrolls totaling over 25M. So fairly substantial.
Here's a link to this month's ADP report if you want to check it out:…
Recently asked how concerns about sticky inflation is getting priced into the markets.
The short answer is, it’s not.
Break even inflation has fallen back to long term average levels, short rates pricing 3pct rates in 18m and commodity px contained:
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