Weekly Market Snapshot – June 14th, 2021
Created by: Sam Tenney
- CPI came in at 0.6% rise in May, for a 5.0% inflation print annually. This is 0.3% over the predicted numbers for the month, and above the feds average inflation targeting, raising concerns over possible early tapering. ¹
- Homebuyer sentiment has collapsed to 12-year lows, with only 35% of Fannie Mae respondents in May 2021 saying they think now is a good time to buy a house. This is in response likely to soaring housing prices despite pending evictions being at all time highs. ²
- Last week’s Job Openings and Labor Turnover Survey (JOLTS) report put the total number of open positions hiring at 9.31 million for May, eclipsing the total number of unemployed Americans. The quit-rate also spiked to 2.7%, showing the strength of the US workforce’s ability in bargaining power currently. ³
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