US Housing data kicked off the week in what was a relatively light data week in the United States. New home sales fell 3.4% to a 560,000-unit annualised pace in August. The Houston metro area accounts for about 5.0% of new home sales, providing an indication of the magnitude of hurricane-related disruptions. Inventory of new [...]
US The Federal Reserve is further along in reducing monetary stimulus, with four rate hikes under its belt. This week it formally announced that it will start reducing the size of its $4.4 trillion balance sheet in October. The pace will be very gradual, with the monthly runoff amounting to 0.2% of its balance sheet. [...]
US Consumer prices rose 0.4% in August, the largest monthly jump since January. Leading the index was a 2.8% rise in energy costs. Prices for gasoline had already been inching higher ahead of the Harvey-related surge late in the month. Core inflation rose 0.2% in August, which was the largest monthly gain since February. On [...]
US Jobless claims jumped to 298K from 236K in the prior week. The Labor Department reported an unadjusted increase of roughly 52K claims in Texas. It is reasonable to expect claims will continue to rise in coming weeks due to the recent calamities affecting the South of the US. The US trade deficit remained largely [...]
US Payroll growth slowed in August with employers adding 156,000 jobs. It is worth noting that the initial print for August payrolls has historically seen the largest upward revisions between the first and third release. Over the past five years, August payrolls have been revised up by an average of 46,000, suggesting the extent of [...]
