Succinct Summations of Week’s Events 8.23.19

Succinct Summations for the week ending August 23rd 2019

Positives:

1. FOMC meeting in Jackson Hole seems to be progressing well without POTUS complications
2. Index of leading economic indicators rose 0.5% in August, above the expected 0.2%
3. E-Commerce retail sales rose 4.2% q/o/q, higher than the previous increase of 3.6%.
4. Existing home sales came in at 5.420M for July, above the expected 5.385M.
5. Same store sales rose 4.9% w/o/w, higher than the previous increase of 4.4%.

Negatives:

1. More trade war mania sends Markets lower for a 4th consecutive week
2. Bond yields plummet on recession fears;
3. Home mortgage apps fell 4.0% w/o/w, lower than the previous increase of 2.0%.
4. Kansas City Fed Mfg Index fell 5 points m/o/m from -1 to -6.
5. PMI Composite FLASH shows 50.9 for August, below the expected 51.9.

Thanks, Matt

 

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