Economic Calendar

Quite a bit of important economic data is scheduled to be released over the next few days. While most people don’t care to know or understand this data, we aren’t most people. This data is central to how the Federal Reserve views inflation within the economy and will provide insight into how the short term rate is going to move in the next few months. So, you ask why we should care? As the fed pushes up the short-term rate, the long-term rate should follow, and I say should only due to Greenspan’s Conundrum. However, bond yields have moved significantly in the past few weeks, pushing mortgage rates to recent highs.

Here is a list at the reports I will be watching for:

November 15 – Retail Sales – Strong retail sales indicate growth and strong spending. A strong number here shows the economy isn’t slowing (or at least the kind of slowdown that manifests itself in consumer spending).

November 15 – Producer Price Index (PPI) – This report shows inflation pressures at the producer level. This is an important report because as that inflation pressure will eventually be pushed to the consumer.

November 16 – Consumer Price Index (CPI) – The CPI report serves to track inflation at the consumer level.

November 17 – Housing Starts and Building Permits – Reports on new homes being built by builders. A supply side indicator.

November 17 – Philly Fed

November 22 – FOMC Meeting Notes Released

November 28 – Existing Home Sales – A bit of a lagging indicator compared to housing starts but more of a demand side indicator.

November 29 – New Home Sales

Caveat Emptor,
Grim