Succinct Summations for the week ending April 23rd, 2021
1. Over 200 million vaccinations in the USA; approaching 1 billion jabs worldwide.
2. Jobless claims fell 39k w/o/w from 586k to 547k.
3. Index of leading economic indicators ros 1.3% m/o/m, above expectations.
4. New home sales came in at an annual rate of 1.021M, above expectations.
5. Home mortgage apps rose 6.0% w/o/w, above the previous decrease of 1.0%.
6. Chicago Fed National Activity index came in at 1.71 in March, below expectations.
1. Capital Gains Tax at a proposed at 43% ?
2. Existing home sales came in at an annual rate of 6.010M in March, below expectations.
3. Vaccine hesitancy growing issue in USA as vax jabs fall from >4m/day to <2m/day
4. India is a Covid disaster: 300k+ new infections per day, hospitals running out of O2 for patients.
Rotation from WFH to Economic Recovery Dates Back to February