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Treasury Snapshot: November 23, 2022

The yield on the 10-year note ended November 23, 2022 at 3.71%, the 2-year note ended at 4.46%, and the 30-year at 3.74%.

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Cryptocurrencies Through 11/23

Here's the latest on the largest cryptocurrencies by market share.

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Michigan Consumer Sentiment Falls 5% in November

The November Final Report came in at 56.8, down 3.1 (5.2%) from the October Final. Investing.com had forecast 55.0. Since its beginning in 1978, consumer sentiment is 34 percent below the average reading (arithmetic mean) and 33 percent below the geometric mean.

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New Home Sales Jumps 7.5% in October

This morning's release of the October New Home Sales from the Census Bureau came in at 632K, up 7.5% month-over-month from a revised 588K in September. The Investing.com forecast was for 570K. The median home price is now at $493K.

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Weekly Unemployment Claims: Up 17K

This morning's seasonally adjusted 240K new claims, up 17k from the previous week's revised figure, was worse than the Investing.com forecast of 225K.

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Headline Durable Goods Orders Up 1% in October

The latest new orders number at 1% month-over-month (MoM) was better than the Investing.com 0.4% estimate. The series is up 10.% year-over-year (YoY). If we exclude transportation, "core" durable goods was up 0.5% MoM and up 4.9% YoY.

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CFNAI Components: Employment, Production, Consumption, Sales

The Chicago Fed's National Activity Index, which we reported on yesterday, is based on 85 economic indicators drawn from four broad categories of data:

  • Production and Income
  • Employment, Unemployment, and Hours
  • Personal Consumption and Housing
  • Sales, Orders, and Inventories
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Weekly Gasoline Prices: Avg Regular at 3.64/Gal

As of November 21, the price of Regular and Premium were down 11 cents each from the previous week. According to GasBuddy.com, Hawaii has the highest average price for Regular at $5.16 and Texas has the cheapest at $2.90. The WTIC end-of-day spot price closed at 80.04 and is down 6.8% from last week.

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Richmond Fed Manufacturing Softens in November

Fifth District manufacturing declined in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index is at -9 in November, up 1 from October.

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World Markets Update: November 21, 2022

Seven  of eight indexes on our world watch list posted losses through November 21, 2022. The top performer is India's BSE SENSEX with a YTD gain of 4.69%. London's FTSE 100 is in second with a fractional, almost nil gain of 0.1% and Tokyo's Nikkei 225 is in third with a loss of 2.94%. Coming in last is Hong Kong's Hang Seng with a loss of 24.54% YTD.

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Chicago Fed: "Index suggests slower economic growth in October"

The Chicago Fed National Activity Index (CFNAI) decreased to –0.05 in October from +0.17 in September. Three of the four broad categories of indicators used to construct the index made negative contributions in October, and three categories deteriorated from September. The index’s three-month moving average, CFNAI-MA3, moved down to +0.09 in October from +0.19 in September.

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S&P 500 Snapshot: Down 16.8% YTD

The S&P 500 has been out of bear territory for the last 7 business days and spent two of them with gains this week. The index is down 16.8% YTD and is 17.3% below its record close. The 10-year yield is now at 3.82%

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CB LEI: Currently In a Recession?

The latest Conference Board Leading Economic Index (LEI) for October was down 0.8% from the September final figure of 115.8.

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Existing-Home Sales: Down 5.9% in October, 9th Consecutive Decline

This morning's release of the October Existing-Home Sales showed that sales fell to a seasonally adjusted annual rate of 4.43 million units from the previous month's 4.71 million. The Investing.com consensus was for 4.38 million. The latest number represents a 5.9% decrease from the previous month and its ninth in a row. October saw a 28.4% decrease YoY.

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Zillow Home Value Index: October Update

October's ZHVI came in at $357,589, up 0.1% from the previous month and up 13.5% YoY. After adjusting for inflation, the real figures are -0.5% MoM and 6.2% YoY.