Obsidian Market Update 12/16/2022
This week, what is the producer price index and what does it have to do with the price of eggs? Then, need some help getting motivated for your workout? We got you covered.
The producer price index came out today, and it was higher than expected, which sparked a negative market reaction. But what is the producer price index? It’s a metric of “the average change over time in the prices domestic producers receive for their output.” Basically, it measures inflation from the perspective of wholesale product manufacturers and suppliers, and is published monthly by the Bureau of Labor Statistics. It’s different from the consumer price index, which measures the amount paid by consumers.
What’s happened this week is that inflation numbers, as reflected by the producer price index, came out higher than expected for the month of November as food prices rose dramatically.
All of this indicates that the Fed might have to raise interest rates going forward to combat the inflation that has dug its heels in over the past 18 months. The good news is, treasury yields moved higher.
If you’re wondering how all of this impacts your specific portfolio, you know what to do–give us a call.
If instead you’re wondering how to amp up your workouts, try music! Music therapists say there are many benefits to having your favorite playlist on while you’re getting your steps in or lifting. For instance, the rhythm and the pace of the music can keep you going, and it motivates you to want to continue working out as you listen to your favorite tunes. It’s also distracting, which is lovely for those of us who don’t always love exercising (shocking, we know).
That’s it for us this week! Take some time to spruce up your Spotify lists, and we’ll be back in your inboxes next Friday.
How We Help
It’s the season of giving, so today feels like a great time to talk about how we help clients with gifting to charities. Last week we met with a client who was sending his required monthly distributions (RMDs) to charities so he could increase his tax write-off. We’ve also worked with several clients who have set up donor advisor funds (which is too late to do for this year, but we can get that going next year for you). Giving to charities through your RMDs is a great way to help others during the holiday season and, indeed, all year long. Give us a call if you’re interested and we’ll chat about what that could mean for you.
Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member FINRA/SIPC. Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.