Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:30 AM, The Producer Price Index for August from the BLS. The consensus is for a 0.1% increase in PPI, and a 0.2% increase in core PPI.
From the Port of Los Angeles: August Cargo Another Record Breaker at Port of Los Angeles For the fifth consecutive month, the Port of Los Angeles has set a new single-month cargo record. In August, the Port moved 861,081 Twenty-Foot Equivalent Units (TEUs), the busiest August in the Port’s 112-year history and a 4.2% increase […]
The Northwest Multiple Listing Service reported Home Buyers Seeking Affordability Are Expanding Search Outside Greater Seattle Job Centers Depleted inventory continues to frustrate would-be buyers in Western Washington. Many of these potential homeowners are expanding their search beyond the major job centers in King County, according to market watchers who commented on the latest statistics […]
The yield curve has been a constant topic of conversation among investors since mid-August, when the 2-year/10-year Treasury curve briefly inverted and launched furious speculation that a recession may be around the corner. The same holds true among Invesco’s market strategists, who have been debating what an inverted yield curve means and whether a recession […]
Notes: In July there were 7.217 million job openings, and, according to the July Employment report, there were 6,063 million unemployed. So, for the seventeenth consecutive month, there were more job openings than people unemployed. Also note that the number of job openings has exceeded the number of hires since January 2015 (4+ years). From […]
CR Note: Most of this survey is noise, but there is some information, especially on the labor market and the “Single Most Important Problem”. From the National Federation of Independent Business (NFIB): August 2019 Report: Small Business Optimism Index The NFIB Small Business Optimism Index fell 1.6 points to 103.1, remaining within the top 15 […]
So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and you’ve been asked what level of access you want to provide to potential buyers. There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, […]
Parliament has been prorogued. I happened to be in Westminster last night. There were a lot of unhappy members about. For me the timing is useful. Teaching commitments mean that time for blogging might be tight over the next few days. Please do understand if, at the very least, moderation is sporadic.
This is my kind of macroeconomics: The abstract says: The case for central bank independence is built on an intellectual two-step. Step one argues there is a problem of inflation prone government. Step two argues independence is the solution to that problem. This paper challenges that case and shows it is based on false politics […]
We identified geopolitical risk as the key market driver in the second half of 2019 in our midyear investment outlook. The UK is the latest example, where deep divisions over a potential Brexit have unsettled the political landscape, paving the way for a broader set of potential outcomes. This could over time become a bigger […]