S&P 500
April 27 : 1357
May 26 : 1325.69
Treasuries
2 year
April 27: 0.64
May 26 : 0.48
10 Year
April 27 : 3.35
May 26 : 3.06
30 Year
April 27 : 4.45
May 26 : 4.22
Inflation Expectations
2 year inflation swaps
April 27 : 2.65
May 26 : 2.12
5 Year TIPS Breakeven rate
April 27 : 2.35
May 26 : 2.07
10 Year TIPS spread
April 27 : 2.6
May 26 : 2.34
30 Year TIPS spread
April 27 : 2.68
May 26 : 2.47
Bloomberg Commodity Index
April 27 : 1766.98
May 26 : 1684.28
EUR USD
April 27 : 1.4738
May 26 : 1.4129
(Data from bloomberg.com)
NGDP expectations are much lower than they were a month ago. On the economic data side, GDP, retail sales, initial claims, and industrial production numbers continue to disappoint. My guess is expectations and data will continue to fall as long as the Fed stays silent.
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