Inflationary risk and the delta variant of the coronavirus will be front and center at next week’s meeting of the Federal Open Market Committee, while policy changes will take a back seat. … READ MORE >
coronavirus
CHART OF THE DAY: Port activity continues its record pace as supply chain normalizes
The increases in seaport activity and the nationwide distribution of goods signal growing confidence in a robust U.S. recovery. … READ MORE >
Jobless claims back above 400,000 for the first time in four weeks
First-time jobless claims increased by 51,000 to 419,000 for the week ending July 3, according to government data released Thursday. … READ MORE >
Negative-yielding debt back above $15 trillion globally as risk of delta variant rises
Over the past 90 days, rising economic and social risks linked to the Delta variant around the world have rattled investors and pushed them back into the safety of government-issued debt. … READ MORE >
CHART OF THE DAY: Foreign investment in U.S. securities rebounds
The latest data from the Treasury International Capital System indicates a 65% increase in net foreign long-term portfolio investment in U.S. securities compared to the imposition of tariffs on China in July 2018, and a 138% increase since February 2019, the month before the pandemic. … READ MORE >
CHART OF THE DAY: Housing market remains strong
Home builder confidence dipped slightly in June, with the National Association of Home Builders on Tuesday reporting a confidence index of 80, down from 81 in May. … READ MORE >
Rising household debt vs. wealth: Cause for concern, or the foundation of economic renewal?
As the economy emerges from the pandemic, concerns about a debt hangover like the one that followed the financial crisis are proliferating. But with American household balance sheets the strongest in decades, we see little chance of a consumer debt hangover interrupting the current expansion anytime soon. … READ MORE >
June retail sales remain robust as economy runs hot
Retail sales increased by 0.6% in June, reflecting the broader narrative that underscores the American economy: Strong fundamentals around increasing employment, rising wages and savings will support a robust rebound as growth posts a cyclical peak in the second quarter. … READ MORE >
Canada’s economic miracle: How Vancouver and Toronto have defied the pandemic and trade wars
Fueled by growing industries like technology, media and entertainment, Vancouver and Toronto are showing how a reimagined economy based on information and digital technologies can bring more resilience and prosperity even amid the economic shock of a pandemic. … READ MORE >
Why the housing market is not in a bubble
Not only are inventories below their historical averages, but buyers are also more credit-worthy – two significant differences from the housing bubble of the years before the Great Recession. … READ MORE >