Succinct Summation of Week’s Events 2.26.21
Succinct Summations for the week ending February 26th, 2021
1. Covid infection rate plummets 72% as USA appears to be closer to herd immunity.
2. FHFA House Price Index rose 1.1% m/o/m, above expectations.
3. Jobless claims fell 111k w/o/w from 841k to 730k.
4. New home sales came in at 923k for January, above expectations.
5. Personal income rose 10.0% m/o/m, above previous increase of 0.6%.
6. Leading economic indicators index rose 0.5% m/o/m, above expectations.
7. Durable goods orders rose 3.4% m/o/m, above expectations.
8. Consumer confidence came in at 91.3 for February, above expectations.
1. Markets, anticipating higher inflation and interest rates, whack Bond market.
2. Pending home sales fell 2.8% m/o/m, below the previous increase of 0.5%.
3. Home mortgage apps fell 12.0% w/o/w, below the previous decrease of 6.0%.
4. Home refinance apps fell 11.0% w/o/w, below the previous decrease of 5.0%.
5. Chicago PMI came in at 59.5 for February, below the expected 61.0.
6. Retail inventories fell 0.6% m/o/m, below the previous increase of 1.9%.
7. State Street Investor confidence index came in at 91.9 for February, below the previous 100.7.
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