December 21, 2021 Headlines

President Biden will lay out the details of his plan to disperse 500 million free Covid-19 tests to combat the rise in cases stemming from the Omicron variant; Omicron is now the most prevalent among new cases in the U.S., accounting for more than 70% of all infections. Risk markets responded positively from their Monday slump, with both S&P and NASDAQ futures up nearly 1% this morning – Treasuries sold off across the curve. There also remains optimism that the Build Back Better plan can be salvaged, with Senate Democrats set to hold a special meeting this evening.

Michael Oravetz
Senior Director, Investment Management Group

12/21/2021Current Account Balance-$205.0b-$214.8b-$190.3b-$198.3b
12/22/2021MBA Mortgage Applications-4.00%
12/22/2021Chicago Fed Nat Activity Index0.40.76
12/22/2021GDP Annualized QoQ2.10%2.10%
12/22/2021Personal Consumption1.70%1.70%
12/22/2021GDP Price Index5.90%5.90%
12/22/2021Core PCE QoQ4.50%4.50%
12/22/2021Conf. Board Consumer Confidence111109.5
12/22/2021Conf. Board Expectations87.6
12/22/2021Conf. Board Present Situation142.5
12/22/2021Existing Home Sales6.53m6.34m
12/22/2021Existing Home Sales MoM3.00%0.80%
12/23/2021Initial Jobless Claims205k206k
12/23/2021Continuing Claims1835k1845k
12/23/2021Personal Income0.40%0.50%
12/23/2021Personal Spending0.60%1.30%
12/23/2021Real Personal Spending0.20%0.70%
12/23/2021PCE Deflator MoM0.60%0.60%
12/23/2021PCE Deflator YoY5.70%5.00%
12/23/2021PCE Core Deflator MoM0.40%0.40%
12/23/2021PCE Core Deflator YoY4.50%4.10%
12/23/2021Durable Goods Orders1.80%-0.40%
12/23/2021Durables Ex Transportation0.60%0.50%
12/23/2021Cap Goods Orders Nondef Ex Air0.70%0.70%
12/23/2021Cap Goods Ship Nondef Ex Air0.70%0.40%
12/23/2021Langer Consumer Comfort49.6
12/23/2021U. of Mich. Sentiment70.470.4
12/23/2021U. of Mich. Current Conditions74.6
12/23/2021U. of Mich. Expectations67.8
12/23/2021U. of Mich. 1 Yr Inflation4.90%
12/23/2021U. of Mich. 5-10 Yr Inflation3.00%
12/23/2021New Home Sales770k745k
12/23/2021New Home Sales MoM3.30%0.40%


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