Daily Report | 17 June 2022
2H22 Consensus Profit Projection Too High. Inflation and high interest rates, as well as the appreciation of the USD,
2H22 Consensus Profit Projection Too High. Inflation and high interest rates, as well as the appreciation of the USD,
FFR increase in June +75 Bps (Vs. Cons. +50 Bps), the Fed's aggressive action dampens May high inflation at consumer CPI
Producer inflation continued to pick up, completing the figures to May's high CPI consumer inflation (1.0% MoM; 8.6%
Yield inversion patterns in UST2Y (3.35%) and UST10Y (3.36%) were formed, one of the indicators of recession. Even
Ineffective in May, speculation of a 75 bps FFR hike in July. May's high inflation (1.0% MoM; 8.6% YoY), busting
ECB rate hike signal raised investors' concerns ahead of US CPI data. ECB will end quantitative easing on July 1, raise
UST10Y was traded with a yield of 3%, and the price of Brent crude oil broke through the level of USD 120/barrel,
Core inflation was maintained, and price in of FFR increase in June, boosted Wall Street upwards. The survey showed that
UST10Y Yield Back to 3%, ahead of US May MoM CPI which is projected to rebound (Cons. 0.7%; Vs. Apr. 0.3%), next Friday.