February 22, 2021 Headlines

Treasuries are little changed this morning amid general softness in risk markets to start the week. There’s a growing sense of optimism related to Covid recovery, and consequently, inflation has been the word of the month so far in financial markets. It appears that Democrats are going to be able to push through a relief package closer to the original $1.9 trillion target, and infrastructure spending discussions have emerged in recent weeks as well.  Treasury Secretary Yellen and Fed Chair Powell have been largely dismissive of inflation worries in recent comments, suggesting that the economy still has a long way to go and that the Fed has the tools to effectively deal with inflation risks. Market participants hope to get a better read on the Fed’s current outlook and comfort with the recent Treasury curve steepening when Powell testifies before the Senate Banking Committee tomorrow.

Jason Haley
Chief Investment Officer

02/22/21Chicago Fed Nat Activity Index0.50.660.520.41
02/22/21Leading Index0.40%0.30%
02/22/21Dallas Fed Manf. Activity57
02/23/21House Price Purchase Index QoQ3.10%
02/23/21FHFA House Price Index MoM1.00%1.00%
02/23/21S&P CoreLogic CS 20-City MoM SA1.25%1.42%
02/23/21S&P CoreLogic CS 20-City YoY NSA9.90%9.08%
02/23/21S&P CoreLogic CS US HPI YoY NSA9.49%
02/23/21Conf. Board Consumer Confidence9089.3
02/23/21Conf. Board Present Situation84.4
02/23/21Conf. Board Expectations92.5
02/23/21Richmond Fed Manufact. Index1614
02/24/21MBA Mortgage Applications-5.10%
02/24/21New Home Sales855k842k
02/24/21New Home Sales MoM1.50%1.60%
02/25/21Durable Goods Orders1.00%0.50%
02/25/21Durables Ex Transportation0.70%1.10%
02/25/21Initial Jobless Claims825k861k
02/25/21Cap Goods Orders Nondef Ex Air0.80%0.70%
02/25/21GDP Annualized QoQ4.20%4.00%
02/25/21Continuing Claims4420k4494k
02/25/21Cap Goods Ship Nondef Ex Air0.60%0.70%
02/25/21Personal Consumption2.50%2.50%
02/25/21GDP Price Index2.00%2.00%
02/25/21Core PCE QoQ1.40%1.40%
02/25/21Bloomberg Consumer Comfort45.8
02/25/21Pending Home Sales MoM0.00%-0.30%
02/25/21Pending Home Sales NSA YoY22.80%
02/25/21Kansas City Fed Manf. Activity1517
02/26/21Advance Goods Trade Balance-$83.0b-$82.5b
02/26/21Wholesale Inventories MoM0.30%0.30%
02/26/21Personal Income9.50%0.60%
02/26/21Retail Inventories MoM0.50%1.00%
02/26/21Personal Spending2.50%-0.20%
02/26/21Real Personal Spending2.20%-0.60%
02/26/21PCE Deflator MoM0.30%0.40%
02/26/21PCE Deflator YoY1.40%1.30%
02/26/21PCE Core Deflator MoM0.10%0.30%
02/26/21PCE Core Deflator YoY1.40%1.50%
02/26/21MNI Chicago PMI6163.8
02/26/21U. of Mich. Sentiment76.576.2
02/26/21U. of Mich. Current Conditions86.2
02/26/21U. of Mich. Expectations69.8
02/26/21U. of Mich. 1 Yr Inflation3.30%
02/26/21U. of Mich. 5-10 Yr Inflation2.70%

Subscribe Today!

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

Recent Articles

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.