U.S. Economic News
December 5, 2017
U.S. Economic Indicators
The ISM Non-Manufacturing Index fell 2.7 percentage points to 57.4 in November. The New Orders Index dropped 4.1 percentage points to 58.7 and the Employment Index decreased 2.2 percentage point to 55.3. ISM Report
The U.S. trade deficit increased from $44.9 billion in September (revised) to $48.7 billion in October. The goods deficit rose $3.8 billion while the services surplus edged down less than $0.1 billion. Census Bureau Report
U.S. News
According to The Wall Street Journal, the House and Senate tax bills both would allow corporations to repatriate billions of dollars held overseas, which could reduce the need for corporations to issue bonds. If the supply of corporate bonds falls, bond prices would likely rise and drive yields even lower than they already are, which could force investors to seek higher returns elsewhere. WSJ
The Wall Street Journal reports that homebuyers are increasingly resorting to all-cash purchases as the supply of homes for sale continues to decline. While the rate of all-cash purchases is still nowhere near its 2011-2012 peak, all-cash purchases have become increasingly popular as sellers wish to close quickly and avoid waiting for a bank to approve a mortgage. WSJ