Succinct Summations for the week ending February 19th, 2021
1. More good news on Vaccines + Vaccinations, falling infections + hosptilizations.
2. Housing market index is at 84 for February, above expectations.
3. Retail sales rose 5.3% m/o/m, above expectations.
4. Existing home sales came in at an annual rate of 6.690M for January above expectations.
5. Business inventories rose 0.6% m/o/m, above previous increase of 0.5%.
6. PMI Composite is at 58.8 for February, above expectations.
1. Signs of speculative excesses are increasing as all markets rally.
2. Jobless claims rose 13k w/o/w from 848k to 861k, above expectations.
3. Home mortgage apps fell 6.0% w/o/w, below the previous increase of 5.0%.
4. Housing starts came in at an annual rate of 1.580M in January, below expectations.
5. Industrial productions rose 0.9% m/o/m, below the previous increase of 1.3%.
6. E-Commerce retail sales fell 1.2%, below the previous decrease of 1.0%.
Bitcoin is up 189% over 3 months