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Schedule for Week of August 18, 2019

The key reports this week are July New and Existing Home Sales. Fed Chair Jerome Powell speaks on Friday at the Jackson Hole Symposium. Also this week, the BLS will release the preliminary employment benchmark revision, and the CBO will release updated budget and economic projections —– Monday, Aug 19th —–No major economic releases scheduled. […]

Investing

Markets shift sharply as uncertainty rises

Financial markets have undergone a pretty sharp shift over the past two weeks. Interest rates have rallied while risk assets like credit, equity, and emerging markets have underperformed. Volatility measures are higher, and the Treasury yield curve is now largely inverted. Invesco Fixed Income believes that several market drivers are at play, in the following […]

Stock

Lawler: Early Read on Existing Home Sales in July

From housing economist Tom Lawler: Early Read on Existing Home Sales in July Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.40 million in July, up 2.5% from June’s […]

Stock

Q3 GDP Forecasts: Around 2%

From Merrill Lynch: The data boosted our 3Q GDP tracking estimate by 0.4pp to 2.1% qoq saar. 2Q was unchanged at 1.8%. [Aug 15 estimate]emphasis added From Goldman Sachs: we left our Q3 GDP tracking estimate unchanged on a rounded basis at +2.1% (qoq ar). [Aug 16 estimate] From the NY Fed Nowcasting Report The […]

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Comments on July Housing Starts

Earlier: Housing Starts decline to 1.191 Million Annual Rate in July Total housing starts in July were below expectations, and starts for May and June were revised down.  The weakness was in the volatile multi-family sector. The housing starts report showed starts were down 4.0% in July compared to June, and starts were up 0.6% […]

Insurance

अपनी पहली सैलरी से करें निवेश की शुरुआत, भविष्य में होगा फायदा

हर साल इस वक्त तमाम कंपनियां कॉलेजों में कैंपस प्लेसमेंट के लिए पहुंचती हैं और ये वक्त होता है फ्रेशर्स के प्रोफेशनल सफर की शुरुआत का। कैंपस से कंपनी तक का ये सफर शुरू होता है और साथ ही शुरू होता है सिलसिला सैलरी मिलने का। यही वक्त होता है जब यंग जेनरेशन को इनवेस्टमेंट […]

Stock

Friday: Housing Starts

Friday:• At 8:30 AM ET: Housing Starts for July. The consensus is for 1.260 million SAAR, up from 1.253 million SAAR in June. • At 10:00 AM: University of Michigan’s Consumer sentiment index (Preliminary for August). • At 10:00 AM: State Employment and Unemployment (Monthly) for July 2019

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Earlier: NY and Philly Fed Mfg Surveys

Earlier from the Philly Fed: August 2019 Manufacturing Business Outlook Survey Manufacturing activity in the region continued to grow, according to results from the August Manufacturing Business Outlook Survey. The survey’s broad indicators remained positive, although their movements were mixed this month: The general activity, shipments, and employment indicators decreased from their readings last month, […]

Investing

Dispelling false analogs in Emerging Market Fintech

China’s success in financial technology inspires legions of EM fintech hopefuls worldwide, spurring them to frenzied product expansion. Private and public market investors consider EM fintech an assured tale of disruption, while traditional bankers view the gathering storm with fear and loathing. A headier concoction has rarely been found–hundreds of millions of under-banked consumers, tens […]