May 17, 2021 Headlines

Treasury yields are slightly higher this morning while equity markets rebounded. Inflation continues to be the focus for investors as fears that rising prices may result in the Fed stepping back from the bond market. The minutes from April’s FOMC minute will be of particular interest to the markets with participants hoping for more clarity regarding the central bank’s plan for bond purchases.

Hafizan Hamzah
Director, Investment Management Group

DateEventSurv(M)ActualPriorRevised
05/17/21Empire Manufacturing23.924.326.3
05/17/21NAHB Housing Market Index838383
05/17/21Total Net TIC Flows$72.6b
05/17/21Net Long-term TIC Flows$4.2b
05/18/21Revisions: Housing Starts/ Building Permits
05/18/21Housing Starts1705k1739k
05/18/21Housing Starts MoM-2.00%19.40%
05/18/21Building Permits1770k1766k1759k
05/18/21Building Permits MoM0.60%2.70%2.30%
05/19/21MBA Mortgage Applications2.10%
05/19/21FOMC Meeting Minutes
05/20/21Philadelphia Fed Business Outlook41.550.2
05/20/21Initial Jobless Claims450k473k
05/20/21Continuing Claims3630k3655k
05/20/21Langer Consumer Comfort54.6
05/20/21Leading Index1.30%1.30%
05/21/21Markit US Manufacturing PMI60.260.5
05/21/21Markit US Services PMI64.564.7
05/21/21Markit US Composite PMI63.5
05/21/21Existing Home Sales6.08m6.01m
05/21/21Existing Home Sales MoM1.20%-3.70%

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