Today’s Topics:



  • CPI rises as core and headline inflation converge.


  • Inflation pressures are concentrated among inelastic areas of the economy. What does this mean for the strength of the economy?


  • Wage growth mildly disappoints as weekly wage gains lag hourly earnings.


  • Why is it so difficult to understand the yield curve? It really isn’t that


WS&M LLC Bond Squad End of Year 2017 Forecasts:


Fed Funds Rate:                              1.25% – 1.50% (year-end)


2-year UST Note Yield:                   2.00% (year-end)


10-year UST Note Yield:                 2.70% (year-end)


CPI (2017 average):            2.0%


Core CPI (2017 Average):              2.2%


PCE (2017 Average):                      1.8%


Core PCE (2017 Average):            2.0%


GDP (2017 Average):                      2.6%

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