Author: Zac Martin, Investment Associate
Week Ending January 16th – The Tariff Cycle
Tariff News: Over the weekend President Trump announced possible 10% tariffs for Denmark and several other European nations in an attempt to pressure a deal around the purchase of Greenland. Currently, no executive orders have been enacted, and the Supreme Court is still set to rule on the previous IEEPA tariffs from April 2025. Additionally, Denmark’s pension fund announced the divestment of US Treasuries totaling $100mln, citing weak US government finances.
Inflation Situation: The consumer price index for December was 2.7%, which is unchanged from November’s report. Core CPI was 2.6%, which was also unchanged from November’s report, but was slightly better than analyst expectations of 2.7%. Additionally, inflation being the single most important problem for small business has declined after briefly increasing over the last couple months, according to NFIB Small Business Survey.
The Week Ahead:
- Personal Consumption Expenditures (1/22): Headline PCE expected to be 2.8% in line with Core PCE.
- Michigan Sentiment & S&P Global PMIs (1/23)
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