US: Robust economic data all around - ANZ

Analysts at ANZ note that the US January Philly Fed index rose to 23.6 vs a downwardly revised 19.3 in December as new orders spiked (26.0 vs 14.9), and price data reaffirmed intensifying inflation pressures.

Key Quotes

“Indeed, prices paid rose to 32.5 (28.1) and prices received jumped to 26.8 (8.0). Employment rose to 12.8 (3.6). On the jobs front, initial claims fell to 234k in the week ended Jan 14. That covers the survey week for non-farm payrolls and provides an early smoke signal that the January employment report could be firm. With Trump taking office and forward-looking US data on the up, the US bond juggernaut looks set to continue heading higher.”