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This week has some important housing data
We have a very data-heavy week coming up, with the ISM, the employment report, factory orders, and the household change in net worth. Earnings season has largely wound down, so we have nothing to focus on there.
Economic data this week
Monday, March 3
Tuesday, March 4
Wednesday, March 5
Thursday, March 6
Friday, March 7
Earnings reports this week
Impact on mortgage REITs
Mortgage REITs like Annaly (NLY), American Capital Agency (AGNC), and MFA Financial (MFA) are highly interest rate–sensitive. The jobs report will loom the largest, but tapering seems to be on autpilot at this point, so you might not see any big moves out of the REITs on an exceptionally strong or weak number
Impact on homebuilders
Analysts will focus on the numbers that impact employment the most. The ISM numbers, along with payrolls, will be the most important for them. Earnings season is largely over, so builders will be keying off the strength of the spring selling season, which has more or less begun. Has the weather created pent-up demand?
Impact on commercial REITs
The personal income and personal spending data will be important for mall REITs, as they influence retail sales. The change in net worth is another number mall REITs will focus on, as home price appreciation should start driving consumption at some point.
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