Economic Events and Analysis
Looking Ahead: Week of August 18 through 22
US Calendar: This week offers a variety of indicators on the economy. Housing has been a tough read lately and there are three key updates-NAHB housing market index, housing starts, and existing home sales. As with this past week's robust industrial production report, manufacturing has regained momentum significantly. Updates will be seen in surveys on manufacturing from Markit Economics and from the Philly Fed. The July CPI number has potential to rattle or calm the bond markets and affect views on the timing of rate increases by the Fed.

Global Calendar: This week brings flash PMI estimates for China, Japan, the Eurozone, Germany, France and the U.S. They should give an inkling of how things are going in the third quarter. The Federal Reserve releases minutes from its most recent meeting and Chair Janet Yellen will speak on the labor markets in Jackson Hole, Wyoming.