Monthly Macro Chart Book

Macro Chart Book – December 2021

Inflation is still the dominant concern for investors as producer prices have risen almost 10% over the last twelve months. 2021 was a great year for equities as every sector in the S&P 500 was up more than 15%. Payrolls disappointed in December, though unemployment is back below 4%. These and other economic topics are examined in December’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – November 2021

Consumers got a slight reprieve from rising oil costs in November, though core inflation is well over 4%, and producer prices are increasing almost 9% YoY. The Omicron Variant spooked markets at the end of November, but there is speculation that the variant may postpone balance sheet run off or expected rate increases in 2022. These and other economic topics are examined in November’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – October 2021

Inflation continues to be a major concern, though real wages have risen for the first time in six months. Fed tapering has not spooked the market as all sectors and equity asset classes were positive in October. In the background, the trade deficit is again on investor’s radars as it reached it’s highest level ($80B) to date. These and other economic topics are examined in October’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – September 2021

Inflation continues to be a major concern as producer prices have risen over 8% over the last year. Partially in response to this, the Fed plans to reduce its purchasing schedule in November. Along with conflict over Biden’s ambitious $3.5 T spending bill, this news sparked a small pullback in the market, which, combined with a strong earnings season, put valuations at their most attractive levels in over a year. These and other economic topics are examined in September’s edition of Julex’s Monthly Macro Chart Book

Macro Chart Book – August 2021

The August jobs report was disappointing but continued to trend in the right direction. Inflation is still a major concern after the Jackson Hole meeting left no doubt that the Fed is not considering raising rates anytime soon. Corporate profits, the stock market, and housing prices are both at all-time highs. These and other economic topics are examined in August’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – July 2021

Unemployment decreased to 5.5% as the U.S. added nearly one million jobs on the month. Q2 GDP missed estimates, but still grew at a 6.5% pace. Going forward, the trade deficit is expected to reduce GDP by 4% annually . These and other economic topics are examined in July’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – June 2021

Inflation climbed closer to 4% (the highest mark in two decades), the Fed Balance Sheet eclipsed $8 Trillion, and housing prices stand nearly 40% higher than the peak of the Housing Bubble. These and other economic topics are examined in June’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – May 2021

Unemployment dipped below 6%, the monthly trade deficit reached its largest level in recent memory, and energy-adjusted inflation crept above 3% for the first time in over 15 years. These and other economic topics are examined in May’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – April 2021

A large miss on job creation brought unemployment up for the first time in 13 months, but every stock sector was positive in April, and Powell reiterated his view that inflation will be a “transitory” event. These and other economic topics are examined in April’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – February 2021

Inflationary concerns caused bond yields to spike, investors shifted into value stocks, and employment data was better than expected. These and other economic topics are examined in February’s edition of Julex’s Monthly Macro Chart Book.

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