Hot Reads: All Eyes on CPI

January 12, 2023

Thursday’s CPI Report Could Terminate the US Stock Market’s Hope That Inflation Will Just Melt Away (MarketWatch)

A mild stock market rally to kick off the new year will be put to the test Thursday when investors face a highly awaited U.S. inflation reading.

 

December Inflation Report: Price Rises Continue to Cool (The New York Times)

The consumer price Index rose 6.5% annually through last month, in line with expectations, as the Fed weighs the path of interest rate increases.

 

ESG Drives Bulk of Flows into European ETFs, ETCs in 2022 (Investment Week)

In total, 65% of flows were directed to ESG products in 2022, up from 53% in 2021.

 

BlackRock Cutting 500 Jobs as Wall Street Layoffs Continue (CNN)

The company hasn’t conducted a major round of layoffs since 2019 and has increased its headcount by about 22% over the past three years.

 

European Markets Close Higher as Investors Look Ahead to US Inflation Data (CNBC)

Investors are gearing up for more inflation data this week, with U.S. consumer price data for December due Thursday.

 

Billions Flood into Junk Bond ETFs Despite Wall Street’s Warning (Bloomberg)

Of the nearly $11 billion that flooded into fixed income ETFs in the past week, the iShares iBoxx High Yield Corporate Bond ETF’s (HYG) $1.6 billion haul was the most of any fund.

 

Bitcoin Mining ETF Tops Equity ETF Market in New Year’s Performance Charts (CoinTelegraph)

Bitcoin and other altcoins started the new year on a bullish note, with most cryptocurrencies surging to multimonth highs.

 

2023 US Leveraged Finance Survey: Stress May Be Less Severe, But Longer-Lasting (PitchBook)

Moving into 2023, tougher financial conditions will, at best, require that companies pay more to raise or refinance debt.

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