Kansas City Fed Survey: Activity Expanded in January
The latest index came in at 24, up from 22 last month, indicating steady continued expansion in January. The future outlook rose to 37. All figures are seasonally adjusted. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.
Pending Home Sales Fell in December
The National Association of Realtors released the December data for their Pending Home Sales Index. According to the National Association of Realtors®, "Pending home sales fell in December, denoting two straight months of declines."
Liftoff in March
The Fed stayed the course today, with no change in the Fed Funds rate, no adjustment to the pace of tapering, no shift in the timeline for raising rates, and no indication that they intend to lift rates in larger steps.
Hedge Funds Face New SEC Disclosures as Gensler Cracks Down
Large hedge funds and private-equity firms may soon have to start reporting steep losses, major redemptions and other extraordinary events in near real-time to the U.S. Securities and Exchange Commission -- a change that the regulator says will help it protect the financial system during meltdowns and wild swings like the meme stock mania that roiled markets a year ago.
New Home Sales Up 11.9% in December
This morning's release of the December New Home Sales from the Census Bureau came in at 811K, up 11.9% month-over-month from a downwardly revised 725K in November. The Investing.com forecast was for 760K. The median home price is now at $377.7K.
1Q 2022 Outlooks from the Calamos Investment Team
Given the many forces shaping the economy and markets, 2022 will be a stock picker’s—and a bond picker’s—market. Prices are indeed stretched in pockets of the market, but many areas offer attractive potential supported by compelling fundamentals and exposure to growth themes.
November S&P/Case-Shiller Home Price Index: National Index up 18.8% YoY
With this morning's release of the November S&P/Case-Shiller Home Price Index, we learned that seasonally adjusted home prices for the benchmark 20-city index saw a 1.18% increase month over month which is cut to 0.74% with inflation adjustment. The non-seasonally adjusted national index saw a 18.8% YoY increase.
FHFA House Price Index: Up Another 1.1% in November
The Federal Housing Finance Agency (FHFA) has released its U.S. House Price Index (HPI) for November. U.S. house prices were up 1.1 percent on a seasonally adjusted nominal basis from the previous month. Year-over-year the index is up 17.6% on a non-seasonally adjusted nominal basis. After adjusting for inflation and seasonality, the index is up 0.2% in November and up 8.4% year-over-year (seasonally adjusted).
Middle-Class Hourly Wages as of December 2021
We've updated this series to include the December release of the Consumer Price Index as the deflator and the monthly employment update. The latest hypothetical real (inflation-adjusted) annual earnings are at $45,503, down 6.7% from 45-plus years ago. Hourly earnings are below their all-time high after adjusting for inflation.
America's Driving Habits as of November 2021
"Travel on all roads and streets changed by +12.3% (+29.2 billion vehicle miles) for November 2021 as compared with November 2020. Travel for the month is estimated to be 267.5 billion vehicle miles." The 12-month moving average was up 0.92% month-over-month and up 9.5% year-over-year. If we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.88% month-over-month and up 9.1% year-over-year.
Chicago Fed: "Index suggests economic growth declined in December"
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) fell to –0.15 in December from +0.44 in November. Two of the four broad categories of indicators used to construct the index made negative contributions in December, and all four categories deteriorated from November. The index’s three-month moving average, CFNAI-MA3, moved down to +0.33 in December from +0.40 in November.