Los Angeles-area seaports continued to process record numbers of shipping containers in June. Combined with the increase in intermodal rail freight, that’s a sign that the North American supply chain is up and running in support of an economic recovery, albeit with room to improve as global supply chain ... READ MORE >
coronavirus
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. The increase underscores the week-to-week noise in the data and is not indicative of any signal of an acceleration in the pace of firings. With the labor market so tight, ... READ MORE >
Negative-yielding debt back above $15 trillion globally as risk of delta variant rises
Last year, the issuance of negative-yielding debt generally declined as the global economy prepared to reopen. It was a sign from the investors that the worst of the pandemic would soon be over. But over the past 90 days, a different story has emerged, as rising economic and social risks linked to ... READ MORE >
CHART OF THE DAY: Foreign investment in U.S. securities rebounds
It has been six months since the Biden administration and the new Congress took charge of foreign and domestic policies, and foreign investment flows suggest a vote of confidence in the economy and its institutions. The latest data from the Treasury International Capital (TIC) System indicates a 65% ... READ MORE >
CHART OF THE DAY: Housing market remains strong
Homebuilder 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. While the recent readings are below the peak of 90 reached last November, they are still above the pre-pandemic high of 76 reached in December ... 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 ... 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. Overall growth will ... READ MORE >
Canada’s economic miracle: How Vancouver and Toronto have defied the pandemic and trade wars
As the coronavirus has upended the daily lives of Canadians, a certain accepted wisdom has emerged about where and how people live. The pandemic, the thinking goes, has caused a dramatic shift in population patterns: namely, a depopulation of major urban areas in favour of suburban, exurban and rural ... READ MORE >
Why the housing market is not in a bubble
Key takeaways Unlike in 2007, the surging housing market is in no danger of crashing. Inventories remain historically low. Demographic changes will bolster demand in the coming years. Buyers today are more credit-worthy than in the 2000s. Household balance sheets are also much ... READ MORE >
Consumer Price Index surges 5.4% in June as the economy reopens
The recent surge in domestic prices continued as consumer prices increased by 0.9% on a monthly basis and by 5.4% on a year-ago basis, according to Labor Department data released on Tuesday. While the increase in prices requires close monitoring by policymakers, the gains continue to be driven by a ... READ MORE >