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The number of building permits issued last month (1,263k) topped estimates (1,260k) but was down from September. A pick-up in multi-unit construction starts offset a decline in single-family homes, though permits issued dropped in both sectors. Data from the National Association of Home Builders showed U.S. homebuilders' confidence dropped to the lowest level since August 2016 amid a significant slowdown in new home sales and rising interest rates. (LPL)

 

Corporate spreads jump. Credit markets are now sharing global stocks' angst over trade and oil. Spreads on investment-grade and high-yield corporate debt have jumped to their highest levels since December 2016, following a spike in credit-default swap prices. (LPL)

 

The Federal Reserve says industrial production rose 0.1% in October over the month earlier, it marked a 4.1 percent increase over 2017. Manufacturing production rose 0.3 percent in October over the prior month, which was the fifth straight month of gains.

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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