By David Enna, Tipswatch.com
Here we go again. Yes, I am traveling again for the next three weeks through the European Alps: Switzerland, France, Italy and Austria.
Much of the time I will be in mountain cities or villages, and may not have strong Internet connections. (But this is Europe, so maybe?) I will attempt to keep up with financial news and reading & answering your comments, but no promises. My article updates will be spotty and ill-timed, I expect.
This will be a fairly busy time for news, especially with potential decisions coming on one U.S. presidential candidacy and one vice presidential choice. And it’s a fine time to view simmering political chaos in Europe.
What’s ahead?
Thursday, July 11. The Bureau of Labor Statistics will release the June inflation report at 8:30 a.m. EDT, or 2:30 p.m. CEST in Geneva, which is on Central European Summer Time. This is about the time I will be arriving in Geneva, so this report will be delayed, along with the effects of impending jet lag.
The consensus of economists is for fairly mild monthly inflation for June, with the annual inflation rate falling from the current 3.3% to 3.1%. But core inflation is expected to tick higher, from 3.4% to 3.5%.
The June inflation report is especially interesting because it sets a baseline for the upcoming increase in the Social Security COLA, which is based on the average of July to September readings in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). I may try to provide a projection of next year’s increase, but that’s a complicated task. It may have to wait until after I return.
Sunday, July 14. I am planning to post a preview article on the auction of a new 10-year Treasury Inflation-Protected Security, scheduled for Thursday, July 18. Real yields have been quite volatile recently, especially in the aftermath of the June 27 presidential debate. But things have settled down, and real yields have been moving lower. The market closed Friday, July 5, with the 10-year real yield at 2.00%, down 16 basis points for the week.
Thursday, July 18. The 10-year TIPS auction closes at 6 p.m. CEST in Biella, Italy, where I will be on that date. There is a good chance my schedule will be complicated at that hour, so I will post the auction results when I can.
Sunday, July 21. I will post a TIPS vs. Nominals article on the 10-year TIPS that is maturing on July 15. This TIPS, which I own, has continued the streak of TIPS out-performance.
At this point, that is all I can see, but something always comes up when I am on vacation.
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David Enna is a financial journalist, not a financial adviser. He is not selling or profiting from any investment discussed. I Bonds and TIPS are not “get rich” investments; they are best used for capital preservation and inflation protection. They can be purchased through the Treasury or other providers without fees, commissions or carrying charges. Please do your own research before investing.
Treasury Inflation-Protected Securities 
Have a good time in the Alps. They are a breathtaking place for hiking.
If you are near Salzburg, you can also visit Hohenwerfen Castle, where the Alistair McLean book based WW2 movie, Where Eagles Dare, was shot. And nearby, in the town of Werfen, is the Alpine pasture where some of the Sound of Music scenes were shot. I think “Do Re me” was shot there. I was able to get there via public transportation from Salzburg.
https://www.salzburgerland.com/en/sound-of-music-trail-werfen/
https://en.wikipedia.org/wiki/Hohenwerfen_Castle
Happy travels. looks like a very nice trip to the heart of Europe. We await for your comments.
Just as a passing mention. On the previous thread you decided to tread lightly (I know) and requested politely not to go overly dramatic with the partisanship. Unfortunately your advise was ignored by a few and I have to say you did the right thing by closing the comments.
First, I believe that David’s blog is as apolitical as possible. However, financial world can not avoid interacting with all sorts of policies driven by politics. Unfortunately, since I came to North America back in 1979, the level of partisanship and sensitivity, on all sides, is the highest now. Yes, David handled the whole exchange most professionally and made the right decision to put a stop to it. Alps will help him recover well….:)
Looks like a super exciting vacation. My wife, my niece, her husband, and I want to plan a similar trip next summer (2025) and will love to know if you created your own itinerary or it’s through some travel agency. Also, if you could share a level of detail on the itinerary, that you feel comfortable with, or the agency package name, will be great…thanks!!!
This is a fairly new trip offered by Overseas Adventure Travel, which we have used more than a dozen times. When I saw the itinerary I knew I wanted to take this one. Small group and we are traveling with three friends: https://www.oattravel.com/trips/land-adventures/europe/alpine-europe/2021/itineraries?ds=true&icid=glbl%3Asearch%3Asug%3Aalpineeurope-franceitalyswitzerlandaustria
Awesome….thanks!!!!!
You can still book a Sound of Music bus tour in Salzberg. Also visit the fortress there complete with torture chamber. Diverse experiences, they have it.