FYI: Economic data was light last week with just 10 releases (Durable Goods and New Home Sales did not release due to the shutdown); half of which came in worse while the rest came in at or above forecasts. After the MLK Jr. holiday Monday, we came back Tuesday to a poor reading in existing home sales which missed by the widest margin since November of 2015. More in housing data, alongside an uptick in FHFA House Prices was a decline in mortgage applications, although they were still strong. Wednesday’s Richmond Fed improved versus December but was still negative. Markit released their preliminary January PMIs on Thursday with a stronger reading, especially relative to weak global numbers released that same morning. Thursday’s report on Leading Indicators showed a slight decline (-0.1%) but was right inline with expectations.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/this-weeks-economic-indicators-1-28-19/
