US employment cost index for Q4 1.0% vs 1.1% estimate

• Employment cost index for Q4 1.0% vs 1.2% last quarterly
• Wages 1.0% vs 1.3% last quarter
• Benefits 0.8% vs 1.0% last quarter
• In 2022 employment costs rose 5.1% YoY versus 4.0% in 2021
• Wages increased by 5.1% YoY versus 4.5% in 2021
• Benefits increase 4.8% YoY versus 2.9% in 2021

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The data was a bit weaker than expectations. US yields have moved lower with the two-year trading at 4.217%. The 10 year is trading at 3.51% down -4.0 basis points. However, at 1.0%, it still is relatively high from historical perspective. Pre-pandemic, the numbers were south of 1% on a regular basis. Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is lower but is still relatively elevated.

US stocks have erased their declines and trade above and below unchanged.