United States Tag

House Prices Are Still In A Bear Market

29 Apr, by Knowledge Leaders Team in Uncategorized

While house prices rose a solid 0.8% on a seasonally adjusted basis according to the S&P/Case-Shiller Home Price Index in February, house prices were unchanged according to the not seasonally adjusted series. February tends to have either the largest or the second largest difference between...

New Home Sales Plunge In March

23 Apr, by Knowledge Leaders Team in Uncategorized

New home sales dropped by 14.5% in March and are now down over 13% year-over-year. All four regions are now negative on a year-over-year basis. Meanwhile, median price rose over 11% to a all-time new high of $290K as months’ supply spiked to its highest...

US Existing Home Sales Are Now Down -7.5% Year-Over-Year

22 Apr, by Knowledge Leaders Team in Uncategorized

Existing home sales actually slightly beat consensus estimates for March (4.59 million vs 4.56 million), however, they still declined for 7th time in 8 months. The good news is the decline in March was minimal. Average and median home prices also both increased in March....

NAHB Housing Market Index Underwhelms In April

15 Apr, by Knowledge Leaders Team in Uncategorized

The latest reading for the NAHB Housing Market Index came in slightly below consensus again (47 vs 49). The index was particularly weak looking at the traffic of prospective buyers. This component series remains subdued at 32, well below the highs made in September 2013...

Foreigners Flocked To US Treasuries In February

15 Apr, by Knowledge Leaders Team in Uncategorized

The always volatile TIC data was released this morning and showed that foreigners bought the most long-term US securities in any month since August 2012. Private parties purchases were focused solely on treasury bonds and notes. They purchased over $75 billion in February which was...

US Retail Sales Jump 1.1% In March

14 Apr, by Knowledge Leaders Team in Uncategorized

Retail sales rebounded by 1.1% in March which slightly beat consensus (1%). February retail sales were also revised up from 0.3% month-over-month to 0.7% month-over-month. Retail sales and retail sales ex-autos both made all-time highs in March. Auto sales grew by over 3.1% for the...

10Y Treasury-Bund Spread at Highest Levels of Last Decade

11 Apr, by Knowledge Leaders Team in Uncategorized

As central bank policies in the U.S. and Europe appear to be headed in very different directions, bond markets have taken note.  Not since June 2006 has the spread between 10-year government bonds in the U.S. and Germany been so extreme.  While yields have fallen...

Job Openings At The Highest Level In 73 Months

08 Apr, by Knowledge Leaders Team in Uncategorized

The JOLTS report came out today and shows that there are more job openings now than at anytime since January 2008. This is slightly higher than what the consensus was predicting. The total number of people who quit their job ticked up slightly in February...

A Visual Tour Of Today’s US Employment Report

04 Apr, by Knowledge Leaders Team in Uncategorized

The headline nonfarm payroll number for March came in slightly below consensus at 192K (consensus was looking for 206K). Perhaps more importantly, however, the prior two months were both revised higher by a total of 37K jobs....

1Q14 US GDP Will Probably Disappoint

03 Apr, by Knowledge Leaders Team in Uncategorized

We had two major economic releases today that suggest that the first quarter GDP in the US may be lower than previously expected. First, the trade deficit unexpectedly widened to $42.3 billion in February from $39.3 billion in January. The consensus was for a slightly...