Robert Hughes
Senior Research Faculty
Robert Hughes joined AIER in 2013 following more than 25 years in economic and financial markets research on Wall Street. Bob was formerly the head of Global Equity Strategy for Brown Brothers Harriman, where he developed equity investment strategy combining top-down macro analysis with bottom-up fundamentals. Prior to BBH, Bob was a Senior Equity Strategist for State Street Global Markets, Senior Economic Strategist with Prudential Equity Group and Senior Economist and Financial Markets Analyst for Citicorp Investment Services. Bob has a MA in economics from Fordham University and a BS in business from Lehigh University.
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New Single-Family Home Sales Jump but Prices Sink
“New-home sales rose in December, but prices plunged, and months’ supply remains relatively high. Rising prices, higher mortgage rates, and continued inventory build may continue to weigh on price increases.” ~ Robert Hughes
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Consumer Confidence Softened in January
“Consumer expectations weakened in January, pulling down overall consumer confidence. Continued expansion remains the likely course, but weaker consumer attitudes could become a headwind.” ~ Robert Hughes
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Existing Home Sales Fell in December and Supply Remains Extremely Tight
“Existing-home sales fell sharply in December, but supply remains very tight. Shifting housing preferences and rising mortgage rates are likely to continue to impact demand over the coming months and quarters.” ~ Robert Hughes
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Weekly Initial Claims for Unemployment Benefits Rise for a Third Consecutive Week
“Weekly initial claims for unemployment benefits rose to a three-month high, possibly impacted by the recent surge in new Covid cases. Regardless, the labor market remains very tight.” ~ Robert Hughes
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Housing Permits Were Hot in December but Rising Mortgage Rates May Cool Them Off
“Housing activity was solid in December. However, rising home prices and higher mortgage rates may be headwinds for demand while elevated commodity costs remain a challenge for homebuilder profits.” ~ Robert Hughes
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•
Manufacturing Output Fell Slightly in December
“Industrial output fell in December, but many industries are producing more now than prior to the pandemic. Still, it may take some time for materials shortages and logistical problems to be fully resolved.” ~ Robert Hughes
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•
Retail Spending Fell Sharply in December
“Retail sales fell in December but remain at a high level, sustaining pressure on prices. However, there may be early signs of easing pressures as sales growth moderates and inventories rise.” ~ Robert Hughes
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•
Weekly Initial Claims for Unemployment Benefits Rise to the Highest Level Since November
“Weekly initial claims for unemployment benefits rose to a two-month high, possibly impacted by the current surge in new Covid cases. Regardless, the labor market remains very tight.” ~ Robert Hughes
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Drop in Gas Holds AIER’s Everyday Price Index Down in December
“AIER’s Everyday Price Index was unchanged in December as falling motor fuels prices offset other gains. Despite waves of new Covid cases, progress boosting output is being made and that should eventually ease some price pressures.” ~ Robert Hughes
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•
Payrolls Recovery Remained Subdued in December
“Payrolls growth disappointed again in December. While the outlook is for continued recovery, difficulties hiring may restrain output growth, sustaining upward price pressures.” ~ Robert Hughes
-
•
New Single-Family Home Sales Jump but Prices Sink
“New-home sales rose in December, but prices plunged, and months’ supply remains relatively high. Rising prices, higher mortgage rates, and continued inventory build may continue to weigh on price increases.” ~ Robert Hughes
-
•
Consumer Confidence Softened in January
“Consumer expectations weakened in January, pulling down overall consumer confidence. Continued expansion remains the likely course, but weaker consumer attitudes could become a headwind.” ~ Robert Hughes
-
•
Existing Home Sales Fell in December and Supply Remains Extremely Tight
“Existing-home sales fell sharply in December, but supply remains very tight. Shifting housing preferences and rising mortgage rates are likely to continue to impact demand over the coming months and quarters.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Rise for a Third Consecutive Week
“Weekly initial claims for unemployment benefits rose to a three-month high, possibly impacted by the recent surge in new Covid cases. Regardless, the labor market remains very tight.” ~ Robert Hughes
-
•
Housing Permits Were Hot in December but Rising Mortgage Rates May Cool Them Off
“Housing activity was solid in December. However, rising home prices and higher mortgage rates may be headwinds for demand while elevated commodity costs remain a challenge for homebuilder profits.” ~ Robert Hughes
-
•
Manufacturing Output Fell Slightly in December
“Industrial output fell in December, but many industries are producing more now than prior to the pandemic. Still, it may take some time for materials shortages and logistical problems to be fully resolved.” ~ Robert Hughes
-
•
Retail Spending Fell Sharply in December
“Retail sales fell in December but remain at a high level, sustaining pressure on prices. However, there may be early signs of easing pressures as sales growth moderates and inventories rise.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Rise to the Highest Level Since November
“Weekly initial claims for unemployment benefits rose to a two-month high, possibly impacted by the current surge in new Covid cases. Regardless, the labor market remains very tight.” ~ Robert Hughes
-
•
Drop in Gas Holds AIER’s Everyday Price Index Down in December
“AIER’s Everyday Price Index was unchanged in December as falling motor fuels prices offset other gains. Despite waves of new Covid cases, progress boosting output is being made and that should eventually ease some price pressures.” ~ Robert Hughes
-
•
Payrolls Recovery Remained Subdued in December
“Payrolls growth disappointed again in December. While the outlook is for continued recovery, difficulties hiring may restrain output growth, sustaining upward price pressures.” ~ Robert Hughes