by Calculated Risk on 7/12/2022 09:01:00 PM

Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:30 AM, The Consumer Price Index for June from the BLS. The consensus is for a 1.1% increase in CPI, and a 0.6% increase in core CPI.  The consensus is for CPI to be up 8.8% year-over-year and core CPI to be up 5.8% YoY.

• At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.

On COVID (focus on hospitalizations and deaths):

COVID Metrics
	Now	Week Ago	Goal
Percent fully Vaccinated	67.0%	---	≥70.0%1
Fully Vaccinated (millions)	222.5	---	≥2321
New Cases per Day3🚩	118,026	105,890	≤5,0002
Hospitalized3🚩	31,036	28,508	≤3,0002
Deaths per Day3	306	325	≤502
1 Minimum to achieve "herd immunity" (estimated between 70% and 85%). 2my goals to stop daily posts, 37-day average for Cases, Currently Hospitalized, and Deaths 🚩 Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths ✅ Goal met.

Click on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of deaths reported.

Average daily deaths bottomed in July 2021 at 214 per day.