Good news: this week was really light on data releases, and this Week in Review is a particularly quick read.
Bad news: most of the data came from R-rated (bordering on X-rated) releases about the housing market, which just cannot catch a break.
Monday
Oil Stuff
Diesel prices jumped to another all-time high and, at $6.53/gallon, are just heinously elevated. Gas prices also continued to rise, up to a bruising $4.61/gallon. That’s over $1.30/gallon more expensive than at the same time last year.
Oil prices fell this past week, so we might see a little relief at the pumps next week, but fuel prices will remain pretty bleak.
TSA Checkpoint Travel Numbers
Air travel levels have improved slightly, according to TSA gate check numbers, but are still down about 2% compared to the same week last year.
Tuesday
Treasury Yields Rise Even Higher
Treasury yields kept surging this week, with the 10-year now closing in on 5.2%. The 10-year is a good proxy for borrowing costs, which is to say: it’s been a horrific week for rate-sensitive segments like housing.
