Page 124 - Philly Fed News Today

Inflationistas ready to throw in the towel, consumer expectations drop, Moderna vaccine safe for adolescents, Hungary ready to tighten, another CBRT sacking May 25, 2021SharePrint Fed governors reiterate that inflation is transitory Inflationistas look like they might be ready to throw in the towel.  We are supposed to be seeing accelerating growth and mounting price pressures, but right now the surge across commodity prices has eased (copper, lumber, iron ore, and even soft grains), the housi...

Fed policy is starting to become a hot topic amongst investors because of the spike in inflation. There would be even more calls for an end to QE and a rate hike if the April jobs report had met expectations. Even still, reports like the Philly Fed manufacturing prices reading show there is some pressure on the Fed to move hawkishly. The good news for the Fed is the 10 year yield is only at 1.61%. There is nothing destabilizing about the 10 year yield being at the same level it was at in 2012. ...

5/20/2021 02:11:00 PM Note: Im tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year.  Remember sales were weak in April 2020 due to the pandemic, so the YoY sales comparison is easy. The Arizona Regional Multiple Listing Service (ARMLS) reports ("Stats Report"): 1) Overall sales were at 9,476 in April, up 36.8% from 6,925 in April 2020. 2) Active inventory was at 4,541, down 67.3% from 13,889 in April 2020. 3) Months of supply dec...

By UPFINAWeekend Reading from UPFINA

Today on Wall Street: Poor manufacturing data boosts indexes 05/21/2021 | 08:07am EDT Message : Required fields European stock markets rallied yesterday, helped after mid-session by Wall Streets positive trend. Initially well anchored in the red, US futures suddenly turned around, supported by (drum roll) poor economic figures. Financial markets like to abuse paradoxes, contradictions and other lack of verisimilitude, which nonetheless take on a relative form of rationality (another paradox, yo...

U.S. Stocks Likely To Open Lower; Economic Data, Earnings News In Focus WASHINGTON (dpa-AFX) - U.S. stocks look headed for a weak start on Thursday, extending recent losses, as investors are likely to make cautious moves after the minutes from the Feds most recent policy meeting suggested some members were in favor of discussing about tapering bond-buying programs. Weekly jobless claims data, corporate earnings announcements, cryptocurrencies movements and crude oil prices are likely to provide...

2 Min Read (Reuters) - Factory activity in the U.S. mid-Atlantic region slowed down in May after hitting its highest pace in nearly half a century earlier this spring, a survey showed on Thursday. The Philadelphia Federal Reserve Bank said its business activity index fell to 31.5 from 50.2 in April. That was shy of economists’ expectations for a reading of 43.0, according to a Reuters poll. Any reading above zero indicates expansion in the region’s manufacturing. The survey covers factories...

US stocks are rebounding as Treasury yields remain heavy after a big miss with the Philly Fed manufacturing index supports the idea that the Fed's dov

5/20/2021 1:49:02 PM GMT | By Pablo Piovano EUR/USD picks-up extra pace beyond 1.2200. The greenback loses further momentum and lifts the pair. US Initial Claims rose by 444K, Philly Index came in at 31.5. The optimism has returned to the single currency and now pushes EUR/USD back above 1.2200 the figure, clinching at the same time new daily highs. EUR/USD in recovery-mode EUR/USD continues to reverse Wednesday’s retracement and it has already regaine...

1.3%.  Eurozone April Final Core CPI eased to 0.7% from 0.5% which matched March’s 0.5%. EUR/USD – The Euro slid 0.38%, reversing 4 days of gains, to finish at 1.2175 in late New York. This followed the release of the FOMC’s April minutes. The rise in the US yields and overall Dollar strength weighed on the shared currency. Speculative long Euro bets were forced to cover some of their positions. AUD/USD – Australia’s Battler slumped under the weight of the stronger Greenback and ma...