CPI (June 2020)

- CPI month/month 0.6%. Previous was -0.1%
- CPI year/year 0.6%. Previous was +0.1%
- CPI less food & energy month/month 0.2%. Previous was -0.1%
- CPI less food & energy year/year 1.2%. Previous was +1.2%

A +0.6% change in CPI would normally hammer Treasury yields and mortgage rates but this +0.6% comes after 3 consecutive months of decline.

Source: Bureau of Labor Statistics Details: https://www.bls.gov/cpi/

NFIB Small Business Optimism Index (June 2020)

- level 100.6. Previous was 94.4

This is a survey index. These folks are or at least were looking to reopen. In normal times Small Business Optimism is a leading indicator of jobs growth.

Source: National Federation of Independent Business (NFIB) Details: https://www.nfib.com/surveys/small-business-economic-trends/

Redbook Chain Store Sales (week ended 7/11/2019)

- Same Store Sales year/year -5.5%. Previous was -6.9%.
- Same Store Sales month/month +3.0%. Previous was -0.6%.

The month/month data shows that store re-openings have helped Chain Store Sales. It is not clear how long this will last.

Source: Redbook Research Inc.