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Consumer prices rose 0.4% in September, more than economists had expected, as rising costs for shelter drove the increase, the Labor Department reported on Thursday. On an annual basis, the consumer price index was unchanged for the month, at 3.7%. The core CPI, leaving out energy and food costs, rose 0.3%, while the yearly rate dropped to 4.1% from 4.3% previously. The CPI release follows Wednesday’s producer price index that rose more than expected, at 0.5% for the month, and 2.2% for the year. But, over the last 12 months, consumer inflation has fallen from an 8.2% pace – although it remains well above the 2% annual goal set by the Federal Reserve.

Persons: ” Johan Grahn Organizations: Labor Department, Federal Reserve, Allianz Investment Management, Atlanta Federal Reserve Bank

☆ Beyoncé shows blamed for fueling inflation in Sweden
▼ + stars: | 2023-06-16 | by ( Patrick Smith | ) www.cnbc.com time to read: +5 min

Beyoncé performs onstage during the opening night of the “RENAISSANCE WORLD TOUR” at Friends Arena on May 10, 2023 in Stockholm, Sweden. Beyoncé has won a record number of Grammys, has become one of the best-selling musical artists in the world and is on a sold-out, record-breaking world tour. "So whilst Beyoncé may have caused a shock to one month's data, she's not the reason for inflation in Sweden that's well above the central bank's target," he said. As in many European countries, Sweden has faced sharp inflation and higher household costs since Russia's invasion of Ukraine disrupted the wholesale energy market and distribution networks. And as for Grahn, he is not expecting to remain of interest to either Beyoncé fans or the world's media.

Persons: Beyoncé, Queen Bey, Sweden's, Michael Grahn, It's, Grahn, hadn't, Bruce Springsteen, James Pomeroy, she's, Marcus Widén, I'm Organizations: Friends Arena, National, Denmark's Danske Bank, NBC, HSBC, Sweden that's, Entertainment, Nordic, European Union Locations: Stockholm, Sweden, United States, North Carolina, Europe, Swedish, Gothenburg, Ukraine

☆ Beyoncé blamed for keeping inflation high in Sweden. Is Springsteen next?
▼ + stars: | 2023-06-15 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Swedish consumers now have Beyoncé to blame for their bills, bills, bills. “[That’s] definitely not normal,” Grahn told CNN. Some of Beyoncé’s US fans told BuzzFeed News in February that they had snapped up tickets for the singer’s Swedish concerts at a huge discount to her US shows. Still, he expects the Beyoncé effect to be short-lived, with hotel prices likely to fall over June. Bruce Springsteen is due to play three shows in the Swedish city of Gothenburg later this month, which could put an upward pressure on prices, Grahn said, but that’s not as likely.

Persons: Michael Grahn, ” Grahn, Grahn, Bruce Springsteen, that’s, Beyoncé, ” Organizations: London CNN, Danske Bank, Reuters, CNN, “, BuzzFeed News Locations: Denmark, Stockholm, Sweden, Swedish, Gothenburg

☆ Company execs used to trumpet their diversity and climate efforts. Now not so much
▼ + stars: | 2023-06-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Just 74 members of the S&P 500 even mentioned “ESG” in their first quarter earnings calls, according to new FactSet data. ESG funds have also lost popularity with investors. Total assets under management in ESG funds fell by about $163.2 billion globally during the first quarter of 2023 from the year before, according to data provider Lipper. The Congressman asked whether the company’s diversity initiatives were “directing resources away from the important things like greasing wheel bearings?”Companies “see that certain terms have become lightning rod terms. “You can say you’re increasing diversity initiatives just for the optics, but without data to back it up, you’ll eventually get called out by stakeholders,” he said.

Persons: New York CNN —, George Floyd, “, “ ESG, It’s, —, Lipper, What’s, Bud Light, influencer Dylan Mulvaney, Mike Collins of, ”, Douglas Chia, Chia, they’re, ” It’s, David Duffy, they’ll, you’ll, ’, Powell, Bryan Mena, Jerome Powell, ” Powell, Dow, Stocks, Beyoncé, Anna Cooban, Michael Grahn, ” Grahn, Bruce Springsteen, Grahn, that’s Organizations: CNN Business, Bell, New York CNN, InBev, Silicon Valley, Norfolk Southern, Conference Board’s ESG, . Firms, Securities and Exchange Commission, Federal Reserve, KPMG, Corporate Governance Institute, “, Nasdaq, Danske Bank, Reuters, CNN Locations: New York, Ukraine, United States, America, Silicon, Mike Collins of Georgia, East Palestine , Ohio, Denmark, Stockholm, Sweden, Swedish, Gothenburg

☆ The Unexpected Beyoncé Effect: Hotter Inflation
▼ + stars: | 2023-06-15 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

In Europe’s relentless battle against inflation, another culprit has apparently emerged: Beyoncé. This could explain some of the reason Sweden’s inflation rate was higher than expected in May. Consumer prices in Sweden rose 9.7 percent last month from a year earlier, the country’s statistics agency, Statistics Sweden, said on Wednesday. Michael Grahn, an economist at Danske Bank, said that the start of Beyoncé’s tour might have “colored” the inflation data. “How much is uncertain,” he wrote on Twitter, but it could be responsible for most of the 0.3 percentage point that restaurant and hotel prices added to the monthly increase in inflation.

Persons: Michael Grahn, ” Organizations: Statistics, Danske Bank, Twitter Locations: Stockholm, Sweden, Statistics Sweden

☆ Beyoncé single-handedly increased inflation in Sweden, economist says
▼ + stars: | 2023-06-14 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +2 min

Beyoncé kicked off her blockbuster Renaissance tour in Stockholm, Sweden. The shows attracted a surge in hotel stays which impacted the country's inflation, an economist said. Economist Michael Grahn told The Wall Journal he considered it a "Beyoncé blip." On Wednesday, Sweden Statistics, a government agency, said restaurants and hotels added 0.3 percentage points to the rate while recreation and culture metrics contributed 0.2 percentage points, according to The Financial Times. "Beyoncé is responsible for the extra upside surprise this month," Grahn added to The Financial Times.

Persons: Beyoncé, Michael Grahn, —, — Bruce Springsteen, Grahn, Taylor Swift's, Swift, didn't Organizations: Service, Danske Bank, Wall Street, Sweden Statistics, Financial Times, Forbes, Parkwood Entertainment Locations: Stockholm, Sweden, Gothenburg

☆ Stocks rise as U.S. inflation trends lower, bond yields slide
▼ + stars: | 2023-05-10 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

The odds of the Fed cutting rates later this year also increased. Consumer prices decelerated to 4.9% year-on-year, the 10th straight month of slowdown as prices react to the Fed's rate-tightening cycle. The two-year Treasury yield, which typically moves in step with rate expectations, slid from 4.05% before the CPI news and dropped to 3.908%. The dollar index eased 0.20% and equity markets rose as the CPI data suggested the Fed's most aggressive rate hikes in four decades were yielding results. U.S. crude futures fell 1.6% to settle at $72.56 a barrel, and Brent settled down 1.3% at $76.41 a barrel.

The likelihood the Fed cuts rates later this year also increased. "The Fed does not aim get rate policy right just in time, they aim to get it right over time." Consumer prices decelerated to 4.9% year-on-year, the 10th straight month of slowdown as prices react to the Fed's rate-tightening cycle. The two-year Treasury yield, which typically moves in step with rate expectations, slid from 4.05% before the CPI news and dropped to 3.904%. Gold prices slipped as the CPI data was viewed as mixed and triggered profit-taking by some investors.

☆ Dollar, stocks slip after Fed minutes spur recession fears
▼ + stars: | 2023-04-12 | by ( Herbert Lash | ) www.reuters.com time to read: +6 min

Fed staff assessing the potential fallout of banking stress projected a "mild recession" later this year. But the minutes showed policymakers ultimately agreed to higher interest rates as data at the time showed few signs of inflation pressures abating. Money markets initially trimmed expectations for a Fed rate hike in May, pricing in a 65.2% chance of a 25-basis-point move, CME Group's FedWatch Tool showed. MSCI's gauge of stocks across the globe (.MIWD00000PUS) closed down 0.08%, while the pan-European STOXX 600 index (.STOXX) rose 0.13%. The dollar fell with an index measuring the U.S. currency against six peers down 0.558%.

☆ CNBC Daily Open: Janet Yellen's guarantee to banks comes with a catch
▼ + stars: | 2023-03-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. But investor confidence is currently so low that any reassuring comment, vague as it might sound, will sound like a promise. Tomorrow, we'll hear from the Federal Reserve and find out whether it's hiking interest rates even amid the turmoil in banks. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Regional banks popped — but can the rally last?
▼ + stars: | 2023-03-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

☆ Buffer ETFs were big winners in 2022. Here's how they work when markets rally
▼ + stars: | 2023-02-09 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

Defined outcome and buffer ETFs proved their worth in 2022's bear market, but a murky market outlook for 2022 could make using the funds a bit more complicated for investors. Buffer ETFs — offered by several firms, including First Trust, Innovator, and Allianz — were a winning strategy for investors in 2022. And they've done exactly what we said they were going to do," said Trevor Terrell, head of distribution at Innovator ETFs. And if the rally continues past the cap, the funds could be in for a terrible year. The success of the buffer funds last year could lead to different types of defined outcome strategies coming to market soon.

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 7, 2022. Trade in European stocks was lacklustre, as signs of an improving economic outlook in the euro zone fed worries about further rate hikes. AUSSIE DOLLAR SURGEThe Australian dollar surged to $0.7123 after the latest inflation data. Germany's Ifo institute said its business climate index rose to 90.2, in line with the consensus, according to a Reuters poll of analysts, and up from 88.6 in December. U.S. crude futures recently rose 1.01% to $80.94 per barrel and Brent was at $86.68, up 0.64% on the day.

☆ A 'wet blanket' for stocks: The ETF strategy boss at $19.5 billion Allianz explains why the Fed is on course to shock markets by raising rates higher and for longer than expected
▼ + stars: | 2023-01-12 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

Granz, the $19.5B firm's head of ETF strategy, says investors are ignoring the Fed's plain talk. He says rates will top 5% at minimum, and doesn't think the Fed will lower rates in 2023. Market experts and pundits alike have been telling investors "Don't fight the Fed" for more than 50 years now. "The market is looking at rates coming down well before where the Fed is," Grahn told Insider in a recent interview. Allianz and Innovator Capital Management are among the largest firms offering buffered outcome ETFs today.

"Today's data shows that inflation is coming down, but it's lingering and is stickier than most assume," he said. Treasury yields rose, suggesting higher rates ahead for the long term, with the benchmarket 10-year yield up 10.2 basis points to 3.595%. The two-year note , which often moves in step with rate expectations, rose 3.2 basis points to 4.344%. Oil prices rose but both benchmarks were set for a weekly loss as worries over a weak economic outlook in China, Europe and the United States weighed on oil demand. Gold prices rose despite an uptick in the dollar and Treasury yields as some investors still expect the Fed will slow the pace of rate hikes from early next year.

☆ The bond market is in the middle of its worst decline since 1949. It's set to unravel some very popular trades, BofA says.
▼ + stars: | 2022-09-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

And below, I'm breaking down what Bank of America has to say about the worst bond market decline in over 70 years. The bond market is in the middle of a historic crash and it'll hammer stocks, according to a Friday note from Bank of America. As central banks around the world move to stem inflation, BofA analysts said bonds are experiencing their worst decline since 1949. What's your stock market outlook heading into year-end? As stocks sell off, Fundstrat's Tom Lee is sticking to his bullish year-end stock market forecast.

☆ The head of ETF strategy at $19.5 billion Allianz shares how to manage risk with the Federal Reserve forced to 'strangle the economy' to slow inflation
▼ + stars: | 2022-09-23 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Or, in the words of Johan Grahn, the head of ETF strategy at $19.5 billion Allianz Investment Management, it was "not necessarily earth-shattering." "There's no doubt that they will have to strangle the economy," Grahn said of the US central bank in an interview with Insider on Wednesday afternoon. Consequences of higher rates include lower corporate earnings and stock valuations, slower growth, and a higher unemployment rate. But hoping for higher unemployment at the expense of lower inflation could easily backfire, Grahn warned, just like the US central bank's plan to get higher inflation while bringing down unemployment did. How to invest as recession risk risesInvestors can manage risk in their portfolios as inflation stays hot and the economy weakens by using a buffer strategy, Grahn said.

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