Key data releases this week include: new home sales (Tue), existing home sales (Wed), FOMC minutes (Wed), Q1 GDP revision (Fri), and durable goods orders (Fri).
May 18, 2017
The Conference Board's Composite Index of Leading Economic Indicators increased 0.3% (3.2% y/y) during April, the same as in March, initially reported as 0.4%. A 0.3% rise had been expected in the Action Economics Forecast Survey. Three-month growth eased to 4.5% (AR) from its peak of 6.6% in February.
Deutsche Welle/Reuters/The Associated Press
May 16, 2017
Politico Pro
Tuesday, May 16, 2017
The economy of the eurozone grew 0.5% in the first quarter, more than double the 0.2% growth rate in the US, according to Eurostat. The only member state economy that didn't grow was Greece, which contracted 0.1%.
South China Morning Post
May 15, 2017
Recent statements on China's economy from Premier Li Keqiang and the Xinhua News Agency show a subtle change in tone, which observers say may indicate a softening of the aggressive regulatory moves made this year. The flurry of regulations aimed to curb deleveraging and establish stable growth, but some market participants have warned that they could destabilize and depress financial markets.
May 22, 2017
The spread between the two- and 10-year Treasury notes narrowed to just 96 basis points, down about 40 basis points from its peak just before the turn of the year. A flatter yield curve is a classic sign of reduced market expectations of rising interest rates, inflation, and growth.
May 22, 2017
Builders, anticipating a young-people buying binge, may finally be getting their wish. New-home buyers are outpacing renters for the first time since the housing crisis. Fannie Mae reported that first-time buyers account for 42% of home purchase mortgage volume this year. That’s up from 31% six years ago.
The New York Times
May 17, 2017
During the first quarter, US household debt rose to a record $12.7 trillion, topping the previous peak in the third quarter of 2008, when the global financial crisis began, the Federal Reserve Bank of New York said. Student loans are swiftly becoming a greater proportion of the total, rising from 3.3% in 2003 to 10.6% today.
May 18, 2017
Bitcoin climbed to a record of $1,875.08 Thursday. With the technology supporting bitcoin appearing to become more stable, it is attracting new interest from investors.
May 19, 2017
The Organization of Petroleum Exporting Countries and its allies will prolong the curbs for at least six months when ministers meet on May 25 in Vienna, according to 24 of 25 analysts polled. The respondents were split on whether the extension will last for six or nine months, and were also at odds over the probability of the cuts rebalancing the market.
Capital Economics
May 22, 2017
There is a view that a big correction in the US stock market lies around the corner, because volatility is very low. This view has been influenced by the fact that volatility was very low before the financial crisis. Yet volatility was even lower in the early 1990s, before a multi-year bull market. Big corrections are not caused by low volatility, but by unanticipated, unwelcome developments.


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