August 14, 2021 Headlines

Treasuries are little changed to start the week following a quiet overnight session (and Friday’s rally). U.S. equity futures are down 35-40 basis points ahead of the open with weaker Chinese economic data and general Covid concerns weighing on sentiment. For financial markets, the next major economic calendar event is Fed Chair Powell’s Jackson Hole speech at the end of next week, but prior to that, we will see the July retail sales report (tomorrow) and the minutes of the July 28 FOMC meeting (Wednesday). On the supply front, Treasury will be issuing new 20-year bonds on Wednesday.

Jason Haley
Chief Investment Officer

08/16/21Empire Manufacturing28.543
08/16/21Total Net TIC Flows$105.3b
08/16/21Net Long-term TIC Flows-$30.2b
08/17/21Retail Sales Advance MoM-0.20%0.60%
08/17/21Retail Sales Ex Auto MoM0.20%1.30%
08/17/21Retail Sales Ex Auto and Gas0.00%1.10%
08/17/21Retail Sales Control Group-0.20%1.10%
08/17/21Industrial Production MoM0.50%0.40%
08/17/21Capacity Utilization75.70%75.40%
08/17/21Manufacturing (SIC) Production0.60%-0.10%
08/17/21Business Inventories0.80%0.50%
08/17/21NAHB Housing Market Index8080
08/18/21MBA Mortgage Applications2.80%
08/18/21Building Permits MoM1.00%-5.10%-5.30%
08/18/21Building Permits1610k1598k1594k
08/18/21Housing Starts1600k1643k
08/18/21Housing Starts MoM-2.60%6.30%
08/18/21FOMC Meeting Minutes
08/18/21-08/20/21Mortgage Delinquencies6.38%
08/18/21-08/20/21MBA Mortgage Foreclosures0.54%
08/19/21Initial Jobless Claims365k375k
08/19/21Continuing Claims2800k2866k
08/19/21Philadelphia Fed Business Outlook2421.9
08/19/21Langer Consumer Comfort54.6
08/19/21Leading Index0.70%0.70%

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