Stronger Start on Tame Employment Cost Data

The Employment Cost Index (ECI) is an economic report that was never on our radar as a top tier market mover in the past.  Then in early 2022, Fed Chair Powell began to point it out as one of the most important indicators of potential wage pressures.  He's gone on to mention it several more times throughout the past 13 months.  It has thus become a consistent and obvious market mover.  Today's release is the latest example with a modest beat (1.0 vs 1.1) producing an instant rally with the highest single minute of volume in more than 2 weeks.  In fact, the only other reports with more of a volume response in January have been NFP and CPI. The chart above doesn't exactly mean that ECI is the second or 3rd most important market mover after CPI. But it does mean that this is officially one of the most tradeable flashpoints because it's not extraordinarily nuanced data.  In other words, the headline is the meat, and it's easy to understand.  That lends itself to an obvious, quick, directional trading response.  Other reports may cause more movement over the course of several minutes as the nuances are digested and balanced. Later this morning, we'll add Chicago PMI and Consumer Confidence to the econ data round-up.  Neither are quite on par with ECI, but both are capable of catching the market's attention.
http://dlvr.it/Shk5dv

Comments

Popular posts from this blog

Builders Respond to the Need for Less Expensive Homes Builders are responding to the need for less expensive homes. Let’s connect to go over the process of buying a newly built home and find the right one for you. #affordablehomes #homebuilders www.DanFreshley.com

#ForBuyers #ForSellers #HousingMarketUpdates #BuyingMyths Experts Project Home Prices Will Rise over the Next 5 Years: Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. http://dlvr.it/SzgmjG

How Buying a Multi-Generational Home Helps with Affordability Today In today's world of rising housing costs, many buyers are looking for ways to still be able to buy a home. Some of them have found a solution in multi-generational living. Multi-generational living is when two or more adult generations live together under one roof. This includes siblings, parents, or even grandparents. Reasons To Buy a Multi-Generational Home According to a recent study by the National Association of Realtors (NAR), the top two reasons people are opting for multi-generational homes today have to do with affordability. Cost Savings: About 28% of first-time buyers and 11% of repeat buyers are deciding on a multi-generational home to save on costs. By pooling their resources, households can share the financial responsibilities to make homeownership more affordable. More Space: Another 28% of first-time buyers and 18% of repeat buyers are doing it because they want a larger home they couldn’t afford on their own. With everyone chipping in and combining their incomes, suddenly, that big dream home with more space is within reach. Lean on an Expert If you’re interested in this too, partner with a local real estate agent. Finding the perfect multi-generational home isn't as simple as shopping for a regular house. That’s because there are more people with even more opinions and needs that should be considered. Buying a multi-generational home can be a smart way to tackle some of today’s affordability challenges. When you team up to share expenses, you can make your dream of homeownership more attainable. If this sounds like an option for you and your loved ones, DM me to help you find a home that’s the perfect fit. #expertanswers #stayinformed www.DanFreshley.com