Monthly Insights - July 2021

A Lack of Clarity


  • Once again, COVID concerns are front and center with increased fear and confusion regarding the Delta variant.


  • Economic data is varied with manufacturing strength but some service industry production has slowed down.


  • Q2 earnings looked good with 88% beating EPS expectations. – J.P. Morgan


  • Mortgage rated declined to the lowest levels in more than five months. – Bloomberg


  • Lumber prices continue to decline but many commodities are still rising.


  • Biden’s $1.2 trillion “bi-partisan" infrastructure plan has yet to be passed amid concerns about how to pay for it.


  • U.S. inflation risks are higher than those in other countries given our supply and demand imbalances. Diminished supply of goods and labor, amid demand rebounds in many sectors, might take some time to unwind. – Vanguard Capital Markets, July 2021


  • While earnings have remained strong, the level of future earnings increases have slowed down compared to previous quarters. – Earnings Scout, July 2021


  • The Department of Veteran Affairs became the first Federal agency to require its health care workers to get vaccinated against COVID 19. – Daily Skimm, July 2021


  • Housing demand is starting to slow down as sales of new single-family homes in June dropped 66% below the revised May rate. Sales were 19.4% below the June 2020 rate. – Calculated Risk Blog, July 2021


  • Job growth, while positive, is not meeting expectations. – Beacon Capital Management, June 2021


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