.@DLineCap's Eric Dhall and Ryan Kimmel recap an Aug. 18-22 market week on the latest Minutes capped by the Fed chair’s S&P 500-boosting Jackson Hole speech.

RT @DLineFunds: In addition to interest-rate, credit & inflation cycles, fiscal imbalances of sovereign debt issuers raise risks for naïve….

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“….consumers’ appraisal of current job availability declined for the eighth consecutive month, but stronger views of current business conditions mitigated the retreat in the Present Situation Index. Meanwhile, pessimism about future job availability inched up and optimism about.

Consumer 12-month inflation expectations increased to 6.2% from 5.7% the previous month.

The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell by 1.6 points to 131.2. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—decreased by 1.2 points to 74.8.

The Conference Board Consumer Confidence Index declined 1.3 points in August to 97.4 (1985=100).

Cities ranked by YoY SA price change

Home prices, as measured by the S&P CoreLogic Case-Shiller 20-city Composite, decreased 0.25%MoM in June vs. -0.2% consensus and -0.32% the previous month. This was the 4th consecutive monthly decline; the year-over-year pace ticked down to +2.14% NSA.

Headline durable goods orders declined -2.8%MoM in July vs. -3.8% consensus, driven by a 32.7% MoM decline in aircraft orders. Excluding the volatile transportation segment, orders rose 1.1%MoM. Core capital goods orders (nondefense capital goods orders excluding aircraft)

RT @DLineFunds: With 56% in commercial ABS and a focus on resilient sectors like aviation and digital infrastructure, $DABS is built to nav….

RT @DLineCap: Back in May, we explored gold’s value through the lens of inflation, showing how it had surged relative to the Consumer Price….

Minutes’ Eric & Ryan talk housing data, labor numbers and a pair of surprisingly strong PMI prints on the latest episode.

Minutes’ Eric & Ryan talk about Fed Chair Powell’s Jackson Hole speech and its impact on market expectations for interest rate cuts this year with only 3 FOMC meetings left.

“Employment rose for a sixth successive month, with the pace of job creation hitting the highest since January (and one of the strongest rates seen for over three years). Service providers took on staff at the fastest pace for seven months while factory job gains reached the.

The inventory of unsold existing homes ticked down to 4.6 months' supply at the current monthly sales pace, near the highest level since 2016.

The median existing-home sales price growth decelerated to 0.24%YoY to $422k.

Existing-home sales rose 2.0%MoM in July to a seasonally adjusted annual rate of 4.01m. Single-family sales increased 2.0%MoM; multi-family +2.8%MoM.

Consumer expectations, ISM new orders and building permits were the detractors to LEI during the month. Stock prices, initial jobless claims and credit conditions were the main contributors.

Conference Board’s Leading Economic Indicator declined -0.1%MoM in July vs. -0.1% consensus and -0.3% the previous month. Year-over-year growth rate declined -3.6% and the 6-month annualized growth rate stable at -5.3%.

S&P Global US PMI preliminary reading for August was better than expected; manufacturing at 53.3 vs. 49.7 consensus. Services ticked lower to 55.4 vs. 54.2 consensus and 55.7 the previous month. This brings the composite to 55.4 vs. 55.1 the previous month.