May 21, 2021 Headlines

It’s a fairly quiet morning with Treasury yields a smidge lower following yesterday’s bond rally and equity futures are slightly higher on the back of yesterday’s jobless claims data as well as solid earnings. The 10-year is currently sitting at 1.62% and futures on the S&P 500 and Dow Jones up 0.33% and 0.42% respectively. Later this morning we’ll get PMI data from Markit as well April’s existing home sales.

Hafizan Hamzah
Director, Investment Management Group

05/17/21Empire Manufacturing23.924.326.3
05/17/21NAHB Housing Market Index838383
05/17/21Total Net TIC Flows$146.4b$72.6b$73.7b
05/17/21Net Long-term TIC Flows$262.2b$4.2b$4.3b
05/18/21Revisions: Housing Starts/ Building Permits
05/18/21Housing Starts1704k1569k1739k1733k
05/18/21Housing Starts MoM-2.00%-9.50%19.40%19.80%
05/18/21Building Permits1770k1760k1766k1755k
05/18/21Building Permits MoM0.60%0.30%2.70%1.70%
05/19/21MBA Mortgage Applications1.20%2.10%
05/19/21FOMC Meeting Minutes
05/20/21Philadelphia Fed Business Outlook41.531.550.2
05/20/21Initial Jobless Claims450k444k473k478k
05/20/21Continuing Claims3620k3751k3655k3640k
05/20/21Langer Consumer Comfort55.354.6
05/20/21Leading Index1.30%1.60%1.30%
05/21/21Markit US Manufacturing PMI60.260.5
05/21/21Markit US Services PMI64.364.7
05/21/21Markit US Composite PMI63.5
05/21/21Existing Home Sales6.07m6.01m
05/21/21Existing Home Sales MoM1.00%-3.70%

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