August 17, 2021 Headlines

A negative tone in global risk markets overnight is fueling another rally in Treasuries to start the day. The same general culprits being attributed to investor anxiety, including Covid spread and geopolitical concerns. Yesterday’s risk-off trade fizzled as the day progressed, with U.S. equity indices and Treasuries ending the day little changed. Boston Fed President Eric Rosengren said yesterday that another strong monthly jobs report (August) could support a September taper announcement. Rosengren is not a voting member of the FOMC in 2021. July retail sales fell more than expected, including a 1% m/m decline in control group sales (-0.2% expected). The report included modest upward revisions to the June growth rates, which partially offsets the bigger than expected July miss.

Jason Haley
Chief Investment Officer

Date	Event	Surv(M)	Actual	Prior	Revised
08/16/21	Empire Manufacturing	28.5	18.3	43	—
08/16/21	Total Net TIC Flows	—	$31.5b	$105.3b	$98.2b
08/16/21	Net Long-term TIC Flows	—	$110.9b	-$30.2b	-$30.0b
08/17/21	Retail Sales Advance MoM	-0.30%	-1.10%	0.60%	0.70%
08/17/21	Retail Sales Ex Auto MoM	0.20%	-0.40%	1.30%	1.60%
08/17/21	Retail Sales Ex Auto and Gas	-0.10%	-0.70%	1.10%	1.30%
08/17/21	Retail Sales Control Group	-0.20%	-1.00%	1.10%	1.40%
08/17/21	Industrial Production MoM	0.50%	—	0.40%	—
08/17/21	Capacity Utilization	75.70%	—	75.40%	—
08/17/21	Manufacturing (SIC) Production	0.70%	—	-0.10%	—
08/17/21	Business Inventories	0.80%	—	0.50%	—
08/17/21	NAHB Housing Market Index	80	—	80	—
08/18/21	MBA Mortgage Applications	—	—	2.80%	—
08/18/21	Housing Starts	1600k	—	1643k	—
08/18/21	Housing Starts MoM	-2.60%	—	6.30%	—
08/18/21	Building Permits MoM	1.00%	—	-5.10%	-5.30%
08/18/21	Building Permits	1610k	—	1598k	1594k
08/18/21	FOMC Meeting Minutes	—	—	—	—
08/18/21	Mortgage Delinquencies	—	—	6.38%	—
08/18/21	MBA Mortgage Foreclosures	—	—	0.54%	—
08/19/21	Initial Jobless Claims	365k	—	375k	—
08/19/21	Continuing Claims	2800k	—	2866k	—
08/19/21	Philadelphia Fed Business Outlook	23.3	—	21.9	—
08/19/21	Langer Consumer Comfort	—	—	54.6	—
08/19/21	Leading Index	0.70%	—	0.70%	—

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Recent Articles

DDJ Myers Becomes An ALM First Company July 1, 2022
July 1, 2022 Headlines July 1, 2022
June 30, 2022 Headlines June 30, 2022

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content.Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First.Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.