US Treasuries
- Wednesday’s UST 10y range:4.385% – 4.435%, closing at 4.41%
Upcoming US Treasury Supply
- $17 Billion 10y TIPS reopening tomorrow, Thursday, 11/21/24
From our Arbor Data Science Desk: The Home Affordability Gap in the U.S.
Realtor.com: How Housing Affordability Has Dropped Over 5 Years: 5 Metros Where Less Than 30% of Households Can Afford a Home
Based on the rule that individuals should spend no more than a third of their income on housing, Realtor.com research has found that Los Angeles, Oxnard, San Diego, and San Jose in California and New York City have been hit hardest.
Jim Bianco: “We don’t need the Fed to be cutting interest rates in this environment”
In Other News…
Freightwaves: Over 2,400 layoffs hit supply chain-related firms across US
Amazon, DHL, GXO, Kuehne+Nagel, Pepsico and True Value Co. among firms announcing job cuts
Layoffs continue across the freight and logistics industry, with 2,402 job cuts announced by companies in Arizona, California, Georgia, Illinois, Missouri, Ohio and Texas over the past three weeks.
Data Center Dynamics: Meta plans $5bn data center campus in Louisiana
Meta looks set to expand its data center footprint into Louisiana.
2024 has seen Meta announce facilities in Jeffersonville, Indiana; Aiken, South Carolina, Cheyenne, Wyoming; Rosemount, Minnesota; and Montgomery, Alabama. This year, the company launched a campus in Gallatin, Tennessee. The company has been linked to, but not officially announced, a project in Davenport, Iowa.
Arbor Data Science: The Expansion of Data Centers
In Commercial Real Estate News…
Costar Insight: AI companies push San Francisco office leasing to pandemic-era high
Demand for office space in San Francisco continued to rise in the third quarter of 2024, giving beleaguered landlords hope that the city’s fortunes may be regaining some luster.
Upcoming Economic Releases & Fed Speak
- 11/21/2024 at 8:30am EST: Philadelphia Fed Business Outlook
- 11/21/2024 at 8:30am EST: Initial Jobless Claims & Continuing Claims
- 11/21/2024 at 8:45am EST: Hammack Gives Welcoming Remarks
- 11/21/2024 at 10:00am EST: Leading Index
- 11/21/2024 at 10:00am EST: Existing Home Sales & Existing Home Sales MoM
- 11/21/2024 at 11:00am EST: Kansas City Fed Manf. Activity
- 11/21/2024 at 12:25pm EST: Goolsbee Participates in Moderated Q&A
- 11/21/2024 at 12:30pm EST: Hammack Moderates Conversation
- 11/21/2024 at 4:40pm EST: Barr Discusses Banks and AI
- 11/22/2024 at 9:00am EST: Bloomberg Nov. United States Economic Survey
- 11/22/2024 at 9:45am EST: S&P Global US Manufacturing PMI & S&P Global US Services PMI & S&P Global US Composite PMI
- 11/22/2024 at 10:00am EST: U. of Mich. Sentiment & U. of Mich. Current Conditions & U. of Mich. Expectations
- 11/22/2024 at 10:00am EST: U. of Mich. 1 Yr Inflation & U. of Mich. 5-10 Yr Inflation
- 11/22/2024 at 11:00am EST: Kansas City Fed Services Activity
- 11/22/2024 at 6:15pm EST: Bowman Speaks on AI
- 11/25/2024 at 8:30am EST: Chicago Fed Nat Activity Index
- 11/25/2024 at 10:30am EST: Dallas Fed Manf. Activity
- 11/26/2024 at 8:30am EST: Philadelphia Fed Non-Manufacturing Activity
- 11/26/2024 at 9:00am EST: FHFA House Price Index MoM & House Price Purchase Index QoQ
- 11/26/2024 at 9:00am EST: S&P CoreLogic CS 20-City MoM SA & S&P CoreLogic CS 20-City YoY NSA & S&P CoreLogic CS US HPI YoY NSA
- 11/26/2024 at 10:00am EST: New Home Sales & New Home Sales MoM
- 11/26/2024 at 10:00am EST: Conf. Board Consumer Confidence & Conf. Board Present Situation & Conf. Board Expectations
- 11/26/2024 at 10:00am EST: Richmond Fed Manufact. Index & Richmond Fed Business Conditions
- 11/26/2024 at 10:30am EST: Dallas Fed Services Activity
- 11/26/2024 at 2:00pm EST: FOMC Meeting Minutes
- 11/27/2024 at 7:00am EST: MBA Mortgage Application
- 11/27/2024 at 8:30am EST: GDP Annualized QoQ & Personal Consumption
- 11/27/2024 at 8:30am EST: GDP Price Index & Core PCE Price Index QoQ
- 11/27/2024 at 8:30am EST: Advance Goods Trade Balance & Wholesale Inventories MoM & Retail Inventories MoM
- 11/27/2024 at 8:30am EST: Durable Goods Orders & Durables ex Transportation
- 11/27/2024 at 8:30am EST: Cap Goods Orders Nondef Ex Air & Cap Goods Ship Nondef Ex Air
- 11/27/2024 at 8:30am EST: Initial Jobless Claims & Continuing Claims
- 11/27/2024 at 10:00am EST: Personal Income & Personal Spending & Real Personal Spending
- 11/27/2024 at 10:00am EST: PCE Price Index MoM & PCE Price Index YoY
- 11/27/2024 at 10:00am EST: Core PCE Price Index MoM & Core PCE Price Index YoY
- 11/27/2024 at 10:00am EST: Pending Home Sales MoM & Pending Home Sales NSA YoY