December 1, 2021 Headlines

An improved risk tone is boosting equity futures this morning and pushing Treasury yields modestly higher across the curve. Markets continue to digest Fed Chair Powell’s hawkish shift yesterday in testimony before the Senate Banking Committee. He unexpectedly acknowledged that it may be “time to retire the word transitory” with regard to current inflation risks, and he also opined that the recently announced tapering schedule may need to be accelerated and end “a few months sooner.” Powell will be testifying again today before the House Financial Services Committee.

Jason Haley
Chief Investment Officer

11/29/21Pending Home Sales MoM1.00%7.50%-2.30%-2.40%
11/29/21Pending Home Sales NSA YoY-4.70%-7.20%-7.30%
11/29/21Dallas Fed Manf. Activity1511.814.6
11/30/21FHFA House Price Index MoM1.20%0.90%1.00%
11/30/21House Price Purchase Index QoQ4.20%4.90%5.10%
11/30/21S&P CoreLogic CS 20-City MoM SA1.20%0.96%1.17%1.16%
11/30/21S&P CoreLogic CS 20-City YoY NSA19.30%19.05%19.66%19.65%
11/30/21S&P CoreLogic CS US HPI YoY NSA19.51%19.84%19.79%
11/30/21MNI Chicago PMI6761.868.4
11/30/21Conf. Board Consumer Confidence110.9109.5113.8111.6
11/30/21Conf. Board Present Situation142.5147.4145.5
11/30/21Conf. Board Expectations87.691.389
12/01/21MBA Mortgage Applications-7.20%1.80%
12/01/21ADP Employment Change525k534k571k570k
12/01/21Markit US Manufacturing PMI59.159.1
12/01/21Construction Spending MoM0.40%-0.50%
12/01/21ISM Manufacturing61.260.8
12/01/21ISM Prices Paid85.585.7
12/01/21ISM New Orders59.8
12/01/21ISM Employment52
12/01/21U.S. Federal Reserve Releases Beige Book
12/01/21Wards Total Vehicle Sales13.45m12.99m
12/02/21Challenger Job Cuts YoY-71.70%
12/02/21Initial Jobless Claims240k199k
12/02/21Continuing Claims2002k2049k
12/02/21Langer Consumer Comfort52.2
12/03/21Two-Month Payroll Net Revision235k
12/03/21Change in Nonfarm Payrolls548k531k
12/03/21Change in Private Payrolls525k604k
12/03/21Change in Manufact. Payrolls42k60k
12/03/21Unemployment Rate4.50%4.60%
12/03/21Average Hourly Earnings MoM0.40%0.40%
12/03/21Average Hourly Earnings YoY5.00%4.90%
12/03/21Average Weekly Hours All Employees34.734.7
12/03/21Labor Force Participation Rate61.70%61.60%
12/03/21Underemployment Rate8.30%
12/03/21Markit US Services PMI5757
12/03/21Markit US Composite PMI56.5
12/03/21ISM Services Index6566.7
12/03/21Factory Orders0.50%0.20%
12/03/21Factory Orders Ex Trans0.70%
12/03/21Durable Goods Orders-0.50%-0.50%
12/03/21Durables Ex Transportation0.50%
12/03/21Cap Goods Orders Nondef Ex Air0.60%
12/03/21Cap Goods Ship Nondef Ex Air0.30%


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