June 16, 2021 Headlines

It’s a relatively quiet morning in financial markets ahead of this afternoon’s FOMC meeting. With no major policy changes expected, market participants will be looking for any hints of hawkishness toward inflation risks from Powell or the updated summary of economic projections. The other question mark for today is whether or not the Fed announces an upward adjustment to the Fed’s IOER and reverse repo rates to combat supply/demand imbalances in the money markets. Following three consecutive weekly declines, the MBA mortgage applications index rose 4.2% last week, including a 5.5% increase in refinance applications. Both purchase and refinance activity remain above historical averages, but the two categories were down 17.2% and 22.2%, respectively, on a year-over-year basis.

Jason Haley
Chief Investment Officer

6/16/2021MBA Mortgage Applications4.20%-3.10%
6/16/2021Housing Starts1630k1572k1569k1517k
6/16/2021Housing Starts MoM3.90%3.60%-9.50%-12.10%
6/16/2021Building Permits1730k1681k1760k1733k
6/16/2021Building Permits MoM-0.20%-3.00%0.30%-1.30%
6/16/2021Import Price Index MoM0.80%1.10%0.70%0.80%
6/16/2021Import Price Index ex Petroleum MoM0.50%0.90%0.70%
6/16/2021Import Price Index YoY10.90%11.30%10.60%10.80%
6/16/2021Export Price Index MoM0.80%2.20%0.80%1.10%
6/16/2021Export Price Index YoY15.20%17.40%14.40%14.90%
6/16/2021FOMC Rate Decision (Lower Bound)0.00%0.00%
6/16/2021FOMC Rate Decision (Upper Bound)0.25%0.25%
6/16/2021Interest Rate on Excess Reserves0.10%0.10%
6/17/2021Philadelphia Fed Business Outlook30.531.5
6/17/2021Initial Jobless Claims360k376k
6/17/2021Continuing Claims3425k3499k
6/17/2021Langer Consumer Comfort55.4
6/17/2021Leading Index1.30%1.60%

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.