Economic Update July 11, 2022

• On a holiday-shortened week, economic data included deceleration in some economic indicators, but not to the point of a feared slowdown as of yet. These included weaker, but still-strong showings from ISM services and JOLTs job openings, as well as a decent June employment report.
• U.S. equity markets gained ground last week, offsetting declines in foreign markets, which are faced with deeper near-term energy struggles. Bonds fell back as interest rates rose broadly, upon lack of slowing needed to justify lower recessionary yields. Commodities continued to fall back from highs, notably in crude oil and natural gas.

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LSA Connect, July 11, 2022