Mike Bjork's (mbjork) Blog

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Mortgage and Lending - Evolve Bank & Trust - NMLS #275652
RECENT BLOG POSTS
http://MikesDailyMarketReport.com:  NAHB Housing Market Index dramatically dropped from 67 in June to 55 in July.  This index gauges the confidence level for Home Builders, which is extremely low in July, as this will most likely lead to a dramatic drop in Permits and New Home Sales, as Home Buil...
07/18/2022
http://MikesDailyMarketReport.com:  Retail Sales grew by 1.0% in June.  A report that we don't normally pay much attention is the Import Prices, which showed an increase of 0.2%.  I'm looking at it now because the Fed will be convening for their 2 day event in about 1.5 weeks and could show infla...
07/15/2022
http://MikesDailyMarketReport.com:  Initial Jobless Claims continue to increase each week, as this week's report has 244k new filings for benefits.  However, the Continuing Claims did shrink from last week.  The Producer Price Index (PPI), which measures inflation on the Wholesale side, reported ...
07/14/2022
http://MikesDailyMarketReport.com:  The CPI report came out a bit hotter for June than expected.  The CPI (headline number) went up 1.3% (higher than the 1.1% forecasts); and it's YoY jumped from 8.6% in May to 9.1% in June.  However, the Core CPI (excluding food & energy) rose 0.7%; but it's YoY...
07/13/2022
http://MikesDailyMarketReport.com:  The NFIB Small Business Index continued it descent to 89.5 for June.  This is lowest since the height of the Pandemic; and prior it was just after the Great Recession in 2013.  Inflation is the biggest concern for Small Businesses.  This index is important beca...
07/12/2022
http://MikesDailyMarketReport.com:  There are no economic data to report for today, but the most impactful data to be reported this week will be the CPI report on Wednesday.  The last report didn't bode well for the Markets; but the PCE came in a bit tamer (and is the Fed's favorite gauge for inf...
07/11/2022
http://MikesDailyMarketReport.com:  The waiting is over for this week's big report, Non-Farm Payrolls (from the Bureau of Labor Statistics, or also referred as BLS).  The Non-Farm Payrolls came in much hotter than expected to 372k in June, as forecasts were calling for 268k.  Unemployment Rate re...
07/08/2022
http://MikesDailyMarketReport.com:  The Initial Jobless Claims rose by 4k from last week's number to 235k.  Also, the Continued Claims picked up a bit; and the Challenger Layoff (announced upcoming layoffs) spiked by almost 12k from last report.  Tomorrow will be the Jobs data from the Bureau of ...
07/07/2022
http://MikesDailyMarketReport.com:  The ISM Non-Manufacturing PMI dropped to 55.3, which was better than the forecast of 54.3.  Anything above 50 with this index indicates expansion.  The FOMC Minutes from it's June meeting were released today.  It basically reiterated what the Fed has been sayin...
07/06/2022
http://MikesDailyMarketReport.com:  Factory Orders rose 1.6% in May; and it's April number was revised higher, from 0.3% to 0.7%.  This will be interesting to follow, as much of the manufacturing data have been contracting.  This week will feature Jobs data; however, one Jobs report will be place...
07/05/2022
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Mike Bjork

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