September 24, 2021 Headlines

Markets continue to juggle near-term worries related to Evergrande and the Fed’s hawkish surprise on Wednesday. Regarding the former, bond holders reportedly did not receive scheduled interest payments yesterday, starting the clock on the 30-day grace period before bondholders can declare default. As of 8:45am EDT, S&P 500 futures are down 0.58%, and Treasury yields are now close to unchanged following a moderate overnight rally. The economic data calendar for the rest of the month is relatively light, but there are several Fed speakers over the next week, including an event today with Fed Chair Powell, Governor Bowman, and Vice-Chair Clarida all speaking.

Jason Haley
Chief Investment Officer

Date	Event	Surv(M)	Actual	Prior	Revised
09/20/21	NAHB Housing Market Index	74	76	75	—
09/21/21	Housing Starts	1550k	1615k	1534k	1554k
09/21/21	Housing Starts MoM	1.00%	3.90%	-7.00%	-6.20%
09/21/21	Building Permits	1600k	1728k	1635k	1630k
09/21/21	Building Permits MoM	-1.80%	6.00%	2.60%	2.30%
09/21/21	Current Account Balance	-$190.8b	-$190.3b	-$195.7b	-$189.4b
09/22/21	MBA Mortgage Applications	—	4.90%	0.30%	—
09/22/21	Existing Home Sales	5.89m	5.88m	5.99m	6.00m
09/22/21	Existing Home Sales MoM	-1.70%	-2.00%	2.00%	2.20%
09/22/21	FOMC Rate Decision (Lower Bound)	0.00%	0.00%	0.00%	—
09/22/21	FOMC Rate Decision (Upper Bound)	0.25%	0.25%	0.25%	—
09/22/21	Interest on Reserve Balances Rate	0.15%	0.15%	0.15%	—
09/23/21	Chicago Fed Nat Activity Index	0.5	0.29	0.53	0.75
09/23/21	Initial Jobless Claims	320k	351k	332k	335k
09/23/21	Continuing Claims	2600k	2845k	2665k	2714k
09/23/21	Langer Consumer Comfort	—	56.3	57.7	—
09/23/21	Markit US Manufacturing PMI	61	60.5	61.1	—
09/23/21	Markit US Services PMI	54.9	54.4	55.1	—
09/23/21	Markit US Composite PMI	—	54.5	55.4	—
09/23/21	Leading Index	0.70%	0.90%	0.90%	0.80%
09/23/21	Kansas City Fed Manf. Activity	25	22	29	—
09/23/21	Household Change in Net Worth	—	$5849b	$4997b	$5131b
09/24/21	New Home Sales	715k	—	708k	—
09/24/21	New Home Sales MoM	1.00%	—	1.00%	—

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.