Since a few months, one of the key developments in the U.S. housing market has been the rebound of rent prices. Several indexes pointed to a sharp increase. According to Apartment List, the median national rent climbed 11.4% in the first seven months of 2021. On a YoY basis, the median national rent rose 10.3% in July (largest increase since the firm tracked data). Even if some part of the increase reflects a bounce-back in prices that fell earlier in the pandemic, the real-estate firm highlights that rents are now far higher than if they had stayed on their pre-Covid trend.
- Given the focus on the luxury sector today... UBS: Estimated exposure of luxury goods companies within our coverage to Chinese consumers (pre-COVID): UHR (~50%), BRBY (~40%), CFR (~40%), RMS (~35%), PRADA (~35%), KER (~33%), MONC (~33%), MC (~31%), SFER (~30%), and TOD (~30%)
Newsquawk Thu 19 Aug 2021 13:56 - RT @ZackEiseman: EFFR falls to 9bps from 10bps, first fall outside of month-end since the IOER hike in June Newsquawk Thu 19 Aug 2021 13:16
- Mixed Philly Fed report, but note promising signs in the Employment component and New Orders, something of a silver lining to the weak data points in the past week https://t.co/Fg2SRNJgYg Newsquawk Thu 19 Aug 2021 12:36
- Initial Jobless Claims 348k (exp. 363k, prev. revised up to 377k from 375k) Continued Claims 2.82mln (exp. 2.80mln) https://t.co/EszoMNEdjW Newsquawk Thu 19 Aug 2021 12:36
- TURKISH CENBANK MPC MINUTES: THE TIGHT MONETARY STANCE WILL SERVE AS A SIGNIFICANT BUFFER Erdogan: https://t.co/efeIvdAjWE Newsquawk Thu 19 Aug 2021 11:11
- Sentiment is firmly risk-off with European equity bourses and US futures pressured ES -0.6%, with USD, safe-haven FX and debt bid Fresh newsflow has been minimal and action a continuation of APAC weakness post-FOMC Minutes after a downbeat US close DXY is firmer but off 93.502 highs as activity/petro-FX slumps but JPY and CHF hold onto marginal gains; USTs outpace EGBs both both are bid Base metals are significantly hampered, LME Copper sub 9k/T, but spot-gold is comparatively steady on mixed leads Looking ahead, highlights include US weekly jobs, Philadelphia Fed Business Index, supply from the US (30yr TIPS)
- SG: $USD bulls may not stop here. Positioning for Jackson Hole, the September employment report and FOMC meeting suggest momentum has potentially further to run. Newsquawk Thu 19 Aug 2021 10:46
- ING: $USD is more and more emerging as the ultimate safe haven, as it appears investors are strongly preferring the greenback to the likes of $JPY and $CHF for their defensive market trades at the moment Newsquawk Thu 19 Aug 2021 10:46
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Analysis details (10:57)
EQUITIES
European equities (Stoxx 600 -2.1%) have seen a notably softer start to the session following on from the weak Wall St. finish and downside in Asia-Pac stocks. In terms of drivers for the downside, the selling in the US appeared to be of a more technical nature, and seemingly unrelated to the FOMC minutes which were deemed dovish if anything. Nonetheless, sentiment has remained subdued with focus during the overnight session on the Hang Seng Tech Index which declined to its lowest level since its launch last year whilst Alibaba’s Hong Kong shares falling to record lows. Other bearish impulses include the recent Oxford study...
- Take a look at today's OpEx! ? $USD $EUR $JPY $GBP $AUD $NZD https://t.co/PXqQIyBO1R Newsquawk Thu 19 Aug 2021 08:06
- European movers: Lanxess +1% Richemont -5.9% Antofagasta -4.8% Valeo -4.7% Kering -4.5% Christian Dior -4.2% Swatch -4.2% Renault -3.9% Glencore -3.8% Arcelormittal -3.8%, BP -3.6% Rolls Royce -3.6% LVMH -3.5% Rio Tinto -3.4% BHP -3.2% Burberry -2.8% Newsquawk Thu 19 Aug 2021 07:11
- FOMC minutes suggested that participants generally judge that the standard of "substantial further progress" had not yet been met Most judged that it could be appropriate to start reducing the pace of asset purchases this year Stocks across Asia succumbed to the weakness seen across US peers with global risk sentiment pressured post-FOMC minutes Hang Seng Tech Index declined to its lowest since its launch last year. Alibaba’s Hong Kong shares fell to record lows DXY remains firm above 93.00, EUR/USD printed fresh YTD lows below 1.17 and activity currencies lag Looking ahead, highlights include Norges Bank rate decision, US weekly jobs, Philadelphia Fed Business Index, supply from France and the US
- - Looking ahead, highlights include Norges Bank rate decision, US weekly jobs, Philadelphia Fed Business Index, supply from France and the US Newsquawk Thu 19 Aug 2021 05:25
- - DXY remains firm above 93.00, EUR/USD printed fresh YTD lows below 1.17 and activity currencies lag Newsquawk Thu 19 Aug 2021 05:25
- - Hang Seng Tech Index declined to its lowest since its launch last year. Alibaba’s Hong Kong shares fell to record lows Newsquawk Thu 19 Aug 2021 05:25
- - Stocks across Asia succumbed to the weakness seen across US peers with global risk sentiment pressured post-FOMC minutes Newsquawk Thu 19 Aug 2021 05:25
- - Most judged that it could be appropriate to start reducing the pace of asset purchases this year Newsquawk Thu 19 Aug 2021 05:25
- Morning all! - FOMC minutes suggested that participants generally judge that the standard of "substantial further progress" had not yet been met Newsquawk Thu 19 Aug 2021 05:25
- North Korea reportedly issued a navigational warning for the East Sea in a signal of missile launch preparations, according to Yonhap Newsquawk Thu 19 Aug 2021 00:55
- Asian bourses succumb to the weakness seen in US peers that were pressured in late trade post-FOMC Minutes which, despite being perceived as dovish, noted that most judged it could be appropriate to start tapering this year; ASX 200 (-0.8%), Nikkei 225 (-0.5%), KOSPI (-0.4%) Newsquawk Thu 19 Aug 2021 00:15
- US restricts Chinese air carriers to 40% passenger capacity on flights to US in tit-for-tat after China imposed limits on United Airlines (UAL) Newsquawk Wed 18 Aug 2021 22:25
- Huawei CFO's extradition hearings end date for decision is to be set on October 21st Newsquawk Wed 18 Aug 2021 21:55
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