Report published May 14, 2026
Up and Adam: Raymond James Market Update (May 14, 2026)
Raymond James · May 14, 2026
The report highlights heightened inflation concerns following a hot April PPI print and notes a record inverse correlation between stocks and yields. It also expresses caution regarding UK assets due to political turmoil and the sustainability of SPR oil drawdowns.
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Finvaulta summarizes Raymond James's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.April PPI data came in hotter than expected, with core PPI reaching its fastest growth rate since December 2022, driven by service costs.
- 2.Equity markets are increasingly sensitive to yield changes, as the inverse correlation between the S&P 500 and 10-year yields is at its highest level since 1999.
- 3.UK political instability and election losses have led to an 'underweight' rating on UK assets, including the FTSE 100 and the pound.
Table of Contents
- Previous Close
- Future
- Today's Events
- Hot PPI Print Keeps Inflation Concerns In Focus; Trade Prices On Deck At 8:30 AM ET
- It May Not Feel That Way, But Equity Correlation To Yields Is Actually Inverse
- Heightened Inflation Risks Lead To Tepid Demand At Treasury Auctions Despite Higher Yields
- UK Faces Political Turbulence—A Potential Risk For Its Equities, Bonds, And The Pound
- Largest Weekly Release From The SPR Helps Mitigate Price Shock, But Raises Longer-Term Questions
Report data
Got Oil?
| Metric | Estimate | Context |
|---|---|---|
| PPI (MoM) | 1.4% | Surprised to the upside. |
| Core PPI (YoY) | 5.2% | Fastest rate since December 2022. |
| SPR Weekly Drawdown | 8.6 million barrels | Largest ever weekly drawdown. |
Reports in this series
Up and Adam is shown in chronological order through this edition, published on May 14, 2026.
Part of the Up and Adam series — view all 19 editions
Looking for the latest edition? Up and Adam (Jul 23, 2026)
- May 10Up and Adam
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