Economic indicators

Recent existing home sales have been stronger than expected, but next year could see a market held back by the inventory shortage and higher rates.

Similarities between the current rate of appreciation and what took place between 2004 and 2006 are mitigated by changes in the housing market.

Though unlikely to derail a hot housing market, another surge in COVID-19 cases could cloud the outlook for economic growth, analysts said.

Meanwhile, investors await word from the central bank regarding monetary policy, as limited housing supply continues to drive prices upward.

A new global quarterly survey from the IACPM shows dissipating worries over COVID-19, giving way to angst of how businesses will cope with inflation and an inevitable rising-rate environment in the long-term.

Asset managers appear mixed on whether credit conditions on spreads and corporate defaults will worsen in 2020 – or remain at today’s benign levels. But few expect any near-term improvement.

After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.