Archive - Macro4Micro

Producer Price Index April 2026: Heat Rising on Cost Inputs

PPI for April has not rattled the bond and equity markets much despite some “worst since” headlines citing the dreaded 2022 comp.

25 mins ago • Glenn Reynolds, CFA

CPI April 2026: 4.1% All Items Less Shelter, 30Y UST 5%

The CPI report confirms some ugly numbers with headline CPI up to 3.8% and slamming real wage growth.

May 12 • Glenn Reynolds, CFA

Market Commentary: Asset Returns 5-10-26

We look at asset returns as semiconductor equities start to strain the adjective supply.

May 10 • Glenn Reynolds, CFA

Employment Situation: April 2026

We look at April payrolls, which exceeded expectations, but the quality mix was subpar. Unemployment rate held at 4.3%.

May 9 • Glenn Reynolds, CFA

New Home Sales March 2026: Favorable Volume, Weaker Prices

The Census is catching up on data since the shutdown with Feb numbers included in the March 2026 new home sales release.

May 6 • Glenn Reynolds, CFA

JOLTS March 2026: Openings Down, Hires Up, Layoffs/Discharges Up

The JOLTS action was mixed, but the rise in Hires is the important news with more current payroll data teed up for this week.

May 5 • Glenn Reynolds, CFA

Market Commentary: Asset Returns 5-4-26

We update running asset returns as April more than offsets March damage. Meanwhile, “Tech vs. “Iran” risk factors swirl.

May 4 • Glenn Reynolds, CFA

PCE Inflation, Income & Outlays March 2026: Inflation Anxiety Level?

AI, semiconductors, Iran and oil win the headlines, but inflation is cutting into real fed funds and real wages.

May 3 • Glenn Reynolds, CFA

1Q26 GDP Advance Estimate: Consumer Fade, Investment Boom

The moving parts of 1Q26 show weakness in PCE growth but a spike in Equipment and IP Products.

May 1 • Glenn Reynolds, CFA

April 2026

Market Commentary: Asset Returns 4-26-26

Other than the risk of hot wars, cold wars, trade wars, and domestic election violence there is little to worry about.

Apr 26 • Glenn Reynolds, CFA

Synchrony Financial: Favorable Consumer Credit Signals

Synchrony is our favorite bellwether for a micro look at consumer credit quality and spending. The 1Q26 numbers were positive.

Apr 24 • Glenn Reynolds, CFA

Market Commentary: Asset Returns 4-19-26

We look at a wildly favorable event-driven swing this past week that could run into trouble this week as events continue to unfold or unravel.

Apr 20 • Glenn Reynolds, CFA

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