| Today's Economy
Cash Surge Lessens Risks Implicit to Corporate Debt’s Rapid Growth U.S. nonfinancial debt advanced by 10.1% in the fourth quarter of 2020. Economic Roundup: Winter Storms Cool U.S. Housing Market Existing-home sales drop but reduced affordability is problematic through the rest of this year. LatAm Daily Briefing: Mexico's Formal Sector in a Pickle Total formal employment is about 4.2% below its previous peak in November 2019. Europe Daily Briefing: Turkey's Central Bank Turns Dovish Again The CBRT's new president is expected to favor loose monetary policy. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Weekly Highlights and Preview, March 22, 2021 We expect weather to have weighed on new-home sales in February. U.S. Chartbook: Still Counting Down Fiscal stimulus and COVID-19 vaccines set up a rebound, but last week’s data do not yet show a bounce. Global Outlook: Vaccination Holds the Key We expect global real GDP to rebound 5.4% in 2021 following the historic 3.7% contraction in 2020. This Week in the COVID Crisis Policymakers have much more work to do to ensure that the U.S. recovery evolves into a self-sustaining economic expansion. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
Chicago Fed National Activity Index
Feb. 2021: -1.09
The Chicago Fed National Activity Index fell to -1.09 in February, its lowest value since April, from 0.75 in January. World
Moody's Analytics Survey of Business Confidence
March 19: 0.3
Global business sentiment turned positive last week on a four-week moving average basis for the first time in a year. United States
Existing-Home Sales
Feb. 2021: 6.22 mil, SAAR
Existing-home sales dropped 6.6% in February to 6.22 million units annualized, cooling from their cycle high clocked back in October. » VIEW MORE ECONOMIC INDICATORS | 
