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% | — |
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