July 22, 2021 Headlines

Equity and bond prices are both higher this morning following a relatively quiet overnight session with Tokyo closed. Futures on both the Dow Jones and S&P 500 are up 0.13% on the back of rosy earnings expectations. Treasuries held steady in the overnight trading session, but long-end yields have since fallen, with the 10-year 3 bps lower. Initial jobless claims rose unexpectedly last week by 51,000 as 419,000 Americans sought unemployment insurance. The median forecast called for a 350,000 jobless claims number. Continuing claims fell by 29,000 to 3.236 million.

Hafizan Hamzah
Director, Investment Management Group

DateEventSurv(M)ActualPriorRevised
07/19/21NAHB Housing Market Index818081
07/20/21Housing Starts1590k1643k1572k1546k
07/20/21Building Permits1696k1598k1681k1683k
07/20/21Housing Starts MoM1.20%6.30%3.60%2.10%
07/20/21Building Permits MoM0.70%-5.10%-3.00%-2.90%
07/21/21MBA Mortgage Applications-4.00%16.00%
07/22/21Chicago Fed Nat Activity Index0.30.090.290.26
07/22/21Initial Jobless Claims350k419k360k368k
07/22/21Continuing Claims3100k3236k3241k3265k
07/22/21Langer Consumer Comfort52.2
07/22/21Leading Index0.80%1.30%
07/22/21Existing Home Sales5.90m5.80m
07/22/21Existing Home Sales MoM1.70%-0.90%
07/22/21Kansas City Fed Manf. Activity2527
07/23/21Markit US Manufacturing PMI6262.1
07/23/21Markit US Services PMI64.564.6
07/23/21Markit US Composite PMI63.7

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