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Economic releases with the σ surprise and the measured market reaction, Treasury auction recaps, and the daily brief, published by the Helious desk the moment they happen.

ALL DESK NOTES AUCTIONS DATA FED SPEAK
ECONOMIC RELEASE

Cleveland Fed inflation nowcast: Q3 CPI 1.1% · core CPI 1.9% · PCE 2.3% · core PCE 2.9%

Cleveland Fed inflation nowcasting model, Q3 2026 (quarterly annualized % change): CPI 1.1%, core CPI 1.9%, PCE 2.3%, core PCE 2.9%. Model update as of 2026-08-12.

ECONOMIC RELEASE

Consumer Price Index n.s.a (MoM): 333.92

Consumer Price Index n.s.a (MoM) — Actual 333.92, forecast 333.99, prev 333.95. ON THE SCREWS · -0.1σ. Bonds BULLISH · Equities BULLISH.

ECONOMIC RELEASE

Consumer Price Index Core s.a: 336.79

Consumer Price Index Core s.a — Actual 336.79, prev 336.06. ABOVE FORECAST · +1.5σ. Bonds BEARISH · Equities BEARISH.

ECONOMIC RELEASE

Consumer Price Index (YoY): 3.4%

Consumer Price Index (YoY) — Actual 3.4%, forecast 3.4%, prev 3.5%. ON THE SCREWS · +0.0σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Consumer Price Index (MoM): 0.10%

Consumer Price Index (MoM) — Actual 0.10%, forecast 0.10%, prev -0.40%. ON THE SCREWS · +0.0σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Consumer Price Index ex Food & Energy (YoY): 2.5%

Consumer Price Index ex Food & Energy (YoY) — Actual 2.5%, forecast 2.5%, prev 2.6%. ON THE SCREWS · +0.0σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Consumer Price Index ex Food & Energy (MoM): 0.20%

Consumer Price Index ex Food & Energy (MoM) — Actual 0.20%, forecast 0.20%, prev 0.00%. ON THE SCREWS · +0.0σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Consumer Price Index n.s.a (MoM): 333.92%

Consumer Price Index n.s.a (MoM) — Actual 333.92%, forecast 333.99%, prev 333.95%. BELOW FORECAST · -0.5σ. Bonds BULLISH · Equities BULLISH.

ECONOMIC RELEASE

Money markets: SOFR 3.64% (+1bp) · Fed ON RRP $1.2B (+$0.3B d/d)

Secured Overnight Financing Rate for 2026-08-11: 3.64% (prior 3.63%). ON RRP total accepted for 2026-08-11: $1.2B (prior day $1.0B).

ECONOMIC RELEASE

MBA Mortgage Applications: 3.6%

MBA Mortgage Applications — Actual 3.6%, prev -2.9%. ABOVE FORECAST · +1.9σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

DE: Harmonized Index of Consumer Prices (YoY): 2.8

DE: Harmonized Index of Consumer Prices (YoY) — Actual 2.8, forecast 2.8, prev 2.8. ON THE SCREWS · +0.0σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

DE: Harmonized Index of Consumer Prices (MoM): 0.9

DE: Harmonized Index of Consumer Prices (MoM) — Actual 0.9, forecast 0.9, prev 0.9. ON THE SCREWS · +0.0σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

API Weekly Crude Oil Stock: 9.07M

API Weekly Crude Oil Stock — Actual 9.07M, forecast -0.50M, prev 2.69M. ABOVE FORECAST · +3.2σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Existing Home Sales (MoM): 4.06M

Existing Home Sales (MoM) — Actual 4.06M, forecast 4.05M, prev 4.09M. ON THE SCREWS · +0.1σ. Bonds BEARISH · Equities BULLISH.

ECONOMIC RELEASE

Cleveland Fed inflation nowcast: Q3 CPI 1.2% · core CPI 1.9% · PCE 2.5% · core PCE 3.0%

Cleveland Fed inflation nowcasting model, Q3 2026 (quarterly annualized % change): CPI 1.2%, core CPI 1.9%, PCE 2.5%, core PCE 3.0%. Model update as of 2026-08-11.

ECONOMIC RELEASE

Redbook Index (YoY): 8.3

Redbook Index (YoY) — Actual 8.3, prev 8.7. BELOW FORECAST · -0.7σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

ADP Employment Change 4-week average: 8K

ADP Employment Change 4-week average — Actual 8K, prev 15K. BELOW FORECAST. Bonds BULLISH · Equities BEARISH.

ECONOMIC RELEASE

Money markets: SOFR 3.63% (+1bp) · Fed ON RRP $1.0B (-$0.5B d/d)

Secured Overnight Financing Rate for 2026-08-10: 3.63% (prior 3.62%). ON RRP total accepted for 2026-08-10: $1.0B (prior day $1.4B).

ECONOMIC RELEASE

NFIB Business Optimism Index: 99.8

NFIB Business Optimism Index — Actual 99.8, forecast 97.5, prev 97.4. ABOVE FORECAST · +1.9σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

NFIB Business Optimism Index: 99.8

NFIB Business Optimism Index — Actual 99.8, forecast 97.5, prev 97.4. ON THE SCREWS. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

GB: BRC Like-For-Like Retail Sales (YoY): 1

GB: BRC Like-For-Like Retail Sales (YoY) — Actual 1, forecast 1.5, prev 1.7. BELOW FORECAST. Gilts BULLISH · Equities BEARISH.

ECONOMIC RELEASE

Cleveland Fed Inflation Expectations: 3.3%

Cleveland Fed Inflation Expectations — Actual 3.3%, prev 3.7%. BELOW FORECAST. Bonds BULLISH · Equities BULLISH.

ECONOMIC RELEASE

Cleveland Fed inflation nowcast: Q3 CPI 1.2% · core CPI 1.9% · PCE 2.4% · core PCE 3.0%

Cleveland Fed inflation nowcasting model, Q3 2026 (quarterly annualized % change): CPI 1.2%, core CPI 1.9%, PCE 2.4%, core PCE 3.0%. Model update as of 2026-08-10.

ECONOMIC RELEASE

Money markets: SOFR 3.62% (-3bp) · Fed ON RRP $1.4B (+$0.0B d/d)

Secured Overnight Financing Rate for 2026-08-07: 3.62% (prior 3.65%). ON RRP total accepted for 2026-08-07: $1.4B (prior day $1.4B).

ECONOMIC RELEASE

EU: Sentix Investor Confidence: 0.9

EU: Sentix Investor Confidence — Actual 0.9, prev -3.1. ABOVE FORECAST · +1.3σ. Bunds neutral · Equities neutral.

ECONOMIC RELEASE

JP: Current Account n.s.a.: -92.3B

JP: Current Account n.s.a. — Actual -92.3B, forecast 1,512.0B, prev 3,968.3B. BELOW FORECAST · -6.4σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

CFTC Oil NC Net Positions: 112K

CFTC Oil NC Net Positions — Actual 112K, prev 120K. BELOW FORECAST. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

CFTC S&P 500 NC Net Positions: -27K

CFTC S&P 500 NC Net Positions — Actual -27K, prev -17K. BELOW FORECAST. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

CFTC Gold NC Net Positions: 198K

CFTC Gold NC Net Positions — Actual 198K, prev 182K. ABOVE FORECAST. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Consumer Credit Change: 14.2B

Consumer Credit Change — Actual 14.2B, forecast 10.5B, prev -0.2B. ABOVE FORECAST · +0.5σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Baker Hughes US Oil Rig Count: 454

Baker Hughes US Oil Rig Count — Actual 454, forecast 452, prev 451. ABOVE FORECAST · +0.4σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Cleveland Fed inflation nowcast: Q3 CPI 1.1% · core CPI 1.9% · PCE 2.4% · core PCE 3.0%

Cleveland Fed inflation nowcasting model, Q3 2026 (quarterly annualized % change): CPI 1.1%, core CPI 1.9%, PCE 2.4%, core PCE 3.0%. Model update as of 2026-08-07.

ECONOMIC RELEASE

U6 Underemployment Rate: 7.9%

U6 Underemployment Rate — Actual 7.9%, prev 7.9%. ON THE SCREWS · +0.0σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Labor Force Participation Rate: 61.4%

Labor Force Participation Rate — Actual 61.4%, prev 61.5%. BELOW FORECAST · -0.7σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Unemployment Rate: 4.1%

Unemployment Rate — Actual 4.1%, forecast 4.2%, prev 4.2%. BELOW FORECAST · -0.8σ. Bonds BEARISH · Equities BULLISH.

ECONOMIC RELEASE

Nonfarm Payrolls: -23K

Nonfarm Payrolls — Actual -23K, forecast 80K, prev 57K. BELOW FORECAST · -1.4σ. Bonds BULLISH · Equities BEARISH.

ECONOMIC RELEASE

Average Weekly Hours: 34.3

Average Weekly Hours — Actual 34.3, forecast 34.3, prev 34.3. ON THE SCREWS · +0.0σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Average Hourly Earnings (YoY): 3.2%

Average Hourly Earnings (YoY) — Actual 3.2%, forecast 3.5%, prev 3.5%. BELOW FORECAST · -2.1σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Average Hourly Earnings (MoM): 0.10%

Average Hourly Earnings (MoM) — Actual 0.10%, forecast 0.30%, prev 0.30%. BELOW FORECAST · -2.9σ. Bonds neutral · Equities neutral.

ECONOMIC RELEASE

Money markets: SOFR 3.65% (+1bp) · Fed ON RRP $1.4B (-$0.2B d/d)

Secured Overnight Financing Rate for 2026-08-06: 3.65% (prior 3.64%). ON RRP total accepted for 2026-08-06: $1.4B (prior day $1.6B).

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