The weekly summation is below, the main positive this week being 100 million vaccine doses administered (though at 67, I have not yet been able to get an appointment), and the main negative on the other side of the coin being the 535,000+ U.S. deaths from COVID-19. Market-wise, the main positive was the falling rate of jobless claims, the main negative the rising bond yields and subsequent inflation fears.
The bonus this Sunday eve is a very instructive graphic from The Big Picture website showing in an easy eye-full the main contributors to deforestation. As can be seen, beef production is by far the biggest driver. Vegan, anyone? Hope all had a great weekend!
Succinct Summation of Week’s Events 3.12.21
Succinct Summations for the week ending March 12th, 2021
Positives:
1. US has administered ~100 million vaccination doses.
2. Jobless claims fell 42k w/o/w from 754k to 712k, below expectations.
3. Home mortgage apps rose 7.0% w/o/w.
5. Wholesale inventories rose 1.3% in January.
5. Investor movement index came in at 7.55 for February.
6. CPI rose 0.4% m/o/m.
Negatives:
1. Bond yields continue to rise on fears of inflation and excess stimulus.
2. US covid death toll rises to over 535,000 people.
3. Home refinance apps fell 5.0% w/o/w.
4. NFIB Small Business Optimism Index came in at 95.8 for February, below expectations.
5. PPI-FD rose 0.5% m/o/m.
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