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.
-
•
Strong Demand Continues for the Manufacturing Sector
“Demand for manufactured goods remained very strong in November. Labor difficulties, materials shortages, and logistical issues continue to restrain supply and pressure prices, but there may be early hints of progress on some issues.” ~ Robert Hughes
-
•
Consumer Confidence Edged Lower in November
“Consumer attitudes fell back slightly as inflation fears continued to mount and new waves of Covid cases unsettled consumers. Continued expansion remains the likely course, but threats remain elevated.” ~ Robert Hughes
-
•
Corporate Profits Hit a Record High in the Third Quarter
“Corporate profits hit a record high despite a tight labor market and rising input costs. Companies may be not only passing along higher costs to consumers, but also taking advantage of consumers’ willingness to pay higher prices and boosting profit margins.” ~ Robert Hughes
-
•
New Single-Family Home Sales Remain Brisk but Inventories Rise as Prices Continue to Surge
“New-home sales rose in October, but inventory rose faster, boosting months’ supply. Rising prices, higher mortgage rates, and continued inventory build should lead to slower price increases.” ~ Robert Hughes
-
•
Core Capital-Goods Orders Rise in October, to Another New Record High
“New orders for core capital goods rose again, hitting another record high. Continued strength for business investment is a positive sign for the economic outlook.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Drop to the Lowest Level Since 1969
“Weekly initial claims for unemployment benefits fell to a multidecade low, though seasonal adjustment difficulties may have played a role. Regardless, the labor market remains very tight.” ~ Robert Hughes
-
•
Existing Single-Family Home Sales Rose Again as Prices Continue to Rise
“Existing-home sales rose in October, driven by the single-family segment, as prices continue to rise. Shifting housing preferences may continue to influence activity over coming months and quarters.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Hold at a Low Level
“Weekly initial claims for unemployment benefits continue to fall, but at a slower pace as they approach pre-pandemic levels. The tight labor market and strong demand will likely keep claims at low levels.” ~ Robert Hughes
-
•
Housing Permits Rise in October, Suggesting Support for Home Demand
“Housing permits rose in October, offering some evidence that demand for housing may remain elevated. Rising home prices and potentially higher mortgage rates may be headwinds for demand while elevated commodity costs may pressure homebuilder profits.” ~ Robert Hughes
-
•
October Industrial Output Posts Broad-based Gain
“Industrial output rebounded in October as the effects of Hurricane Ida faded and motor vehicle production jumped. It may take some time for materials shortages and logistical problems to be fully resolved, but October was a positive sign for the outlook.” – Robert Hughes
-
•
Strong Demand Continues for the Manufacturing Sector
“Demand for manufactured goods remained very strong in November. Labor difficulties, materials shortages, and logistical issues continue to restrain supply and pressure prices, but there may be early hints of progress on some issues.” ~ Robert Hughes
-
•
Consumer Confidence Edged Lower in November
“Consumer attitudes fell back slightly as inflation fears continued to mount and new waves of Covid cases unsettled consumers. Continued expansion remains the likely course, but threats remain elevated.” ~ Robert Hughes
-
•
Corporate Profits Hit a Record High in the Third Quarter
“Corporate profits hit a record high despite a tight labor market and rising input costs. Companies may be not only passing along higher costs to consumers, but also taking advantage of consumers’ willingness to pay higher prices and boosting profit margins.” ~ Robert Hughes
-
•
New Single-Family Home Sales Remain Brisk but Inventories Rise as Prices Continue to Surge
“New-home sales rose in October, but inventory rose faster, boosting months’ supply. Rising prices, higher mortgage rates, and continued inventory build should lead to slower price increases.” ~ Robert Hughes
-
•
Core Capital-Goods Orders Rise in October, to Another New Record High
“New orders for core capital goods rose again, hitting another record high. Continued strength for business investment is a positive sign for the economic outlook.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Drop to the Lowest Level Since 1969
“Weekly initial claims for unemployment benefits fell to a multidecade low, though seasonal adjustment difficulties may have played a role. Regardless, the labor market remains very tight.” ~ Robert Hughes
-
•
Existing Single-Family Home Sales Rose Again as Prices Continue to Rise
“Existing-home sales rose in October, driven by the single-family segment, as prices continue to rise. Shifting housing preferences may continue to influence activity over coming months and quarters.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Hold at a Low Level
“Weekly initial claims for unemployment benefits continue to fall, but at a slower pace as they approach pre-pandemic levels. The tight labor market and strong demand will likely keep claims at low levels.” ~ Robert Hughes
-
•
Housing Permits Rise in October, Suggesting Support for Home Demand
“Housing permits rose in October, offering some evidence that demand for housing may remain elevated. Rising home prices and potentially higher mortgage rates may be headwinds for demand while elevated commodity costs may pressure homebuilder profits.” ~ Robert Hughes
-
•
October Industrial Output Posts Broad-based Gain
“Industrial output rebounded in October as the effects of Hurricane Ida faded and motor vehicle production jumped. It may take some time for materials shortages and logistical problems to be fully resolved, but October was a positive sign for the outlook.” – Robert Hughes