July 17, 2019 Headlines

Treasury prices are slightly higher this morning following uninspiring corporate earnings combined with weak economic data out of Asia (Singaporean exports experienced the largest drop in six years). Additionally, comments from President Trump about the possibility of new tariffs on Chinese goods moved the specter of the trade war back to the forefront of investors’ minds. On the data front, mortgage applications continued to fall as the MBA Mortgage Applications index showed a decline of 1.1% last week. Looking deeper in the release shows that refinance applications increased by 1.5% and were largely driven by an increase in FHA activity. Construction of new homes fell for the second month in a row as new housing starts fell by 0.9% in June. Much of this decline stemmed from fewer multi-family starts, which decreased by 9.2%.

Hafizan Hamzah
Director, Investment Management Group

DateEventSurveyActualPriorRevised
7/17/2019MBA Mortgage Applications—-1.10%-2.40%—
7/17/2019Housing Starts1260k1253k1269k1265k
7/17/2019Housing Starts MoM-0.70%-0.90%-0.90%-0.40%
7/17/2019Building Permits1300k1220k1294k1299k
7/17/2019Building Permits MoM0.10%-6.10%0.30%0.70%
7/17/2019U.S. Federal Reserve Releases Beige Book
7/18/2019Philadelphia Fed Business Outlook5—0.3—
7/18/2019Initial Jobless Claims216k—209k—
7/18/2019Continuing Claims1700k—1723k—
7/18/2019Bloomberg Consumer Comfort——63.8—
7/18/2019Bloomberg Economic Expectations——50.5—
7/18/2019Leading Index0.10%—0.00%—
7/19/2019U. of Mich. Sentiment98.8—98.2—
7/19/2019U. of Mich. Current Conditions112.8—111.9—
7/19/2019U. of Mich. Expectations90—89.3—
7/19/2019U. of Mich. 1 Yr Inflation——2.70%—
7/19/2019U. of Mich. 5-10 Yr Inflation——2.30%—

 

 

 

 

 

 

 

 

 

Subscribe Today!

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

Subscribe

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.