The Monday Mix: August 14 – 20, 2023

Top-of-mind economic news as we start the week:

U.S. 30-year mortgage rates climbed above 7%, a 21-year high; homebuilder sentiment dropped sharply.

U.S. retail sales advanced 0.7% in July, as consumer spending so far seems to be holding up.

— New claims for U.S unemployment benefits fell in the latest week, as labor market continues to show resiliency.

Chinese real estate developer Evergrande filed for bankruptcy in the U.S. to protect its assets here, amid an ongoing slowdown in China’s real estate sector.

The European Union will require reporting on emissions for carbon-intensive imports (steel, cement, fertilizer, etc.) to levy its import carbon tax.