November 15, 2021 Headlines

Treasury yields are slightly lower this morning while equity futures are rallying on the back of strong earnings. Increasing tensions between the US and China over Taiwan and tech sales were a catalyst for the rally in Treasuries. Additionally, the prospect of renewed lockdowns in Austria, Germany, and the Netherlands. The calendar is light today with the Empire Manufacturing Survey the only thing on the docket.

Hafizan Hamzah
Director, Investment Management Group

11/15/21Empire Manufacturing2230.919.8
11/16/21Retail Sales Advance MoM1.30%0.70%
11/16/21Retail Sales Ex Auto MoM1.00%0.80%
11/16/21Retail Sales Ex Auto and Gas0.70%0.70%
11/16/21Retail Sales Control Group0.90%0.80%
11/16/21Import Price Index MoM1.00%0.40%
11/16/21Import Price Index ex Petroleum MoM0.30%0.10%
11/16/21Import Price Index YoY10.30%9.20%
11/16/21Export Price Index MoM1.00%0.10%
11/16/21Export Price Index YoY16.30%
11/16/21Industrial Production MoM0.90%-1.30%
11/16/21Capacity Utilization75.90%75.20%
11/16/21Manufacturing (SIC) Production0.90%-0.70%
11/16/21Business Inventories0.60%0.60%
11/16/21NAHB Housing Market Index8080
11/16/21Total Net TIC Flows$91.0b
11/16/21Net Long-term TIC Flows$79.3b
11/17/21MBA Mortgage Applications5.50%
11/17/21Building Permits MoM2.80%-7.70%-7.80%
11/17/21Building Permits1630k1589k1586k
11/17/21Housing Starts1580k1555k
11/17/21Housing Starts MoM1.60%-1.60%
11/18/21Initial Jobless Claims260k267k
11/18/21Continuing Claims2115k2160k
11/18/21Philadelphia Fed Business Outlook23.423.8
11/18/21Langer Consumer Comfort50.350.3
11/18/21Leading Index0.80%0.20%
11/18/21Kansas City Fed Manf. Activity2931


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