Commentaries

September 29, 2017

New Single-Family Home Sales for August came in at a 560,000 annualized rate versus 571,000 for July. New Durable Goods Orders were up 1.7% for August, and up 5.1% for the 12 months ended August. Most of the strength over the past year has come from areas outside of transportation, so the growth in orders has had wide breadth. The Chicago Purchasing Managers Index came in very strong for September, at 65.2 versus 58.5 consensus. U.S. Real GDP growth for the second quarter came in at +3.1% on an annualized basis, with the price index up only 1.0%.
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September 22, 2017

Single-Family Housing Starts were strong for August, up to a 851,000 annualized rate. The Index of Leading Indicators rose a nice 0.4% for August, up from 0.3% for July. The FOMC had their most recent meeting this week, with not much new information coming out of the meeting. The FOMC officially announced its well-known plans to begin shrinking the Fed's balance sheet.
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