| Today's Economy
Economic Roundup: Don't Fret Over U.S. Trade Deficit Fiscal policy and the pandemic are preventing the nominal trade deficit from narrowing. Capital Market View: Checking In on Spreads and Issuance The high-yield corporate bond spread continues to widen. LatAm Daily Briefing: Mexico Steps on the Accelerator GDP is on track for growth of around 6.5% in 2021. Europe Daily Briefing: German Factory Orders Rebound Factory orders are up from the previous month, but supply conditions limit production potential. » VIEW MORE TODAY'S ECONOMY
Commentary
Work-From-Anywhere and Suburban Commuters Counties that are close (but not too close) to big cities may benefit from remote and hybrid work. U.S. Household Bankruptcy Filings Will Remain Low for a While The longer-term outlook is far less certain. U.S. Inflation Tracker: What's Ahead? There will not be a smooth arc in the second half of 2021, but price growth will nevertheless decelerate over the next few months. U.S. Weekly Highlights and Preview, August 3, 2021 The unemployment rate likely fell by 0.3 of a percentage point to 5.7% in July. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Industrial Production
Jun. 2021: 0.5% m/m
In June, French industrial production was on the rebound, increasing by 0.5% from a month earlier and recovering from an upwardly revised 0.4% drop in the previous month. United Kingdom
Monetary Policy and Minutes
Aug. 2021: 0.1%
The Bank of England voted unanimously to maintain its current bank rate of 0.1% and its stock of corporate bond purchases. United States
Challenger Report
Jul. 2021: 18,942
Job cut announcements fell to 18,942 in July, the lowest level since 2000 and the fourth straight month with job cuts below 25,000. United States
Jobless Claims
July 31: 385,000
U.S. initial claims for unemployment insurance benefits declined 14,000 to 385,000 in the week ended July 31. United States
International Trade (FT900)
Jun. 2021: -$75.7 bil
The U.S. nominal trade deficit widened more than we and the consensus anticipated in June and will likely lead to a downward revision to our tracking estimate of second-quarter GDP. Canada
International Merchandise Trade
Jun. 2021: C$ 3.2 bil
In June, Canada's merchandise trade balance returned to a surplus of C$3.2 billion after a C$1.6 billion deficit in May. Netherlands
Consumer Price Index
Jul. 2021: 1.4% y/y
Inflation in the Netherlands dropped to 1.4% in July from 2% in June. United States
St. Louis Fed Financial Stress Index
July 30: -0.95
Financial stress rebounded last week, with the St. United States
Natural Gas Storage Report
July 30: 13 bil cubic feet
The increase in gas stocks last week was slightly under analyst predictions, suggesting that this report should provide a small amount of support to gas prices. China
Foreign Trade
Jul. 2021:
Argentina
Industrial Production - Advance
Jun. 2021: 19.1% y/y
Industrial output increased 19.1% y/y in June (NSA) after rising 30.2% in the previous month. Colombia
Consumer Price Index
Jul. 2021:
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