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E-MINI S&P (U1): Northbound


Awaiting Clearer Cues


Local Bonds Take A Knock After the Eid Break


Pullback Considered Corrective

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  • The New York Fed Staff Nowcast stands at 3.7% for 2021:Q2 and 4.4% for 2021:Q3.
  • News from this week's data releases decreased the nowcast for 2021:Q2 by 0.5 percentage point and decreased the nowcast for 2021:Q3 by 0.9 percentage point.
  • Negative surprises from advanced retail sales and building permits data accounted for most of the decrease in both quarters, with Empire State Manufacturing survey data also contributing to the decline in 2021:Q3.

NY Fed GDP Nowcast