EM LATAM CREDIT: "Costa Rica Dec. Consumer Prices Rise 0.94% M/m" - BBG

NY Fed consumer inflation expectations all increased a tenth in November, albeit with the 3Y metric exaggerated by rounding. The longer-term measures lag the recent increase seen in the U.Mich consumer survey where the 5-10Y dipped to 3.1% in preliminary December data after a rare push above its range to 3.2% in November. 

• 1Y: 2.97% after 2.87%, extending a broad stabilization having averaged 2.97% for the latest six months.
• 3Y: 2.57% after 2.54%, towards the middle of the ytd range but close to the 2.6% averaged in 2019.
• 5Y: 2.9% after 2.8%, having been either 2.8% or 2.9% since June. 

• Stocks are trading modestly weaker early Monday, extending lows following the lower than expected Wholesale Trade sales data (-0.1% vs. 0.2% est; prior up revised to 0.5% from 0.3%, however). Currently, the DJIA trades down 92.91 points (-0.21%) at 44544.12, S&P E-Minis down 30 points (-0.49%) at 6069.25, Nasdaq down 139.9 points (-0.7%) at 19723.5.
• Communication Services and Utilities sectors underperformed in the first half, leading laggers in the former included Omnicom Group -6.5% after announcing $13B deal to merge with Interpublic (IPG). Comcast -5.91% after the CEO announced a 100k subscriber drop at a UBS investor event this morning, Charter Communications -5.52% on lackluster broadband subscriber numbers. Independent Power and Electricity providers weighed on the Utilities sector: Vistra -7.21%, Constellation Energy -5.07%, NRG Energy -3.36%.
• Of interest, China officials announced they were investigating Nvidia over alleged anti-monopoly violations, the chip stock trading down 3.12% in the first half.
• Conversely, Materials and Energy sectors led gainers in the first half, metals and mining shares buoyed the Materials sector: Freeport-McMoRan +5.68%, Nucor +3.04%, Newmont +3.04%. Crude prices are higher (WTI +1.60 at 68.80) following the fall of the Assad regime in Syria this weekend, the power vacuum lending to increased uncertainty in the Middle East with crude prices rising (WTI +1.60 at 68.80). That in turn supported oil and gas shares with APA +4.62%, Phillips 66 +3.08%, Valero +3.06% and Marathon Petroleum +2.83%.
• Earnings announcements this week include Toll Brothers and Oracle after today's close. AutoZone Inc kicks off Tuesday morning followed by GameStop after the close. Midweek on: Macy's, Adobe, Costco and Broadcom.

• EUR/USD: $1.0450(E1.0bln), $1.0465-75(E2.3bln), $1.0500(E1.4bln), $1.0550(E530mln), $1.0600-20(E1.7bln), $1.0650(E599mln), $1.0715(E710mln)
• USD/JPY: Y151.90-00($1.0bln)
• EUR/GBP: Gbp0.8300-20(E500mln)
• AUD/USD: $0.6500(A$1.1bln)
• USD/CNY: Cny7.2400($627mln), Cny7.3000($1.0bln)