Housing Starts Rise At Fastest Pace Since 2006
lpereira2021-01-21T15:35:21+00:00Historically low mortgage rates propelled housing starts and housing permits to its fastest pace since 2006. Housing Starts
Retail Sales Decline
lpereira2021-01-16T04:31:45+00:00Government stimulus can not come fast enough as the economy continues to weaken. Advanced monthly retail sales declined -.7% vs an expectation of unchanged. Sales ex auto declined -1.4% vs an expected decline of -.2%. The unadjusted value of sales in 2020 increased .6%, the weakest increase in 11 years. Retail [...]
Surge in Jobless Claims
lpereira2021-01-14T15:28:41+00:00It is hard to find any good labor market news. The lack of stimulus money, increased lockdowns and surging COVID-19 cases continue to make getting a job difficult. Weekly initial claims rose 181k to 965k. The increase was the largest since March. initial_jobless_claims
Inflation Remains Tame
lpereira2021-01-13T18:00:41+00:00Consumer prices remains tame. This data gives policy makers little reason to tighten monetary policy. However, asset price inflation (real estate, stock market prices) is an entirely different conversation. cpi
The Leisure and Hospitality Sector Highlight Job Losses
lpereira2021-01-08T15:42:21+00:00Confirming weakness in the labor market, Nonfarm Payrolls showed a decline of 140k jobs. This was the first decline in jobs since April’s massive loss of 20.7mm jobs. NFP
Negative ADP Payroll Print
lpereira2021-01-06T15:17:58+00:00The labor market's weakness prior to a "third wave" of covid cases is problematic. However, the market seems to view this release as old news and instead is focused on a Democratic Senate and reflation. ADP Payrolls