Top-of-mind economic news as we start the week:
— US inflation (CPI) was 0.8% in Nov. and 6.8% for past 12 months, the highest annual level since 1982, with gas and food prices major drivers.
— New weekly claims for US unemployment benefits fell to 184k, the lowest level in 52 years, as employers are wary to lay off workers given very tight labor market.
— US consumer sentiment rebounded in Dec. (70.4 on U Michigan Index) but remains well below Dec. 2020 level of 80.4, with inflation biggest concern.
— Stock buybacks by S&P 500 companies are on track to hit a new all-time high in 2021; nearly $235 billion in repurchases during 3rd quarter.
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