The S&P CoreLogic Case-Shiller 20-city home price index in the US increased at a fresh record 19.9 percent yoy in July 2021, following a 19.1% rise in June and compared to market forecasts of a 20% jump. Phoenix (32.4%), San Diego (27.8%), and Seattle (25.5%) continued to post the biggest increases. The National Composite Index marked its fourteenth consecutive month of accelerating prices with a record 19.7% gain from year-ago levels. New York joined Boston, Charlotte, Cleveland, Dallas, Denver, and Seattle in recording their all-time highest annual gains.

Stocks of crude oil in the United States rose 4.127 million barrels in the week ended September 24th of 2021, following a 6.108 million barrels decline in the previous week and compared with market expectations of a 2.333 million drop, data from the American Petroleum Institute showed.

European equity markets posted sharp losses on Tuesday, with Frankfurt’s Dax down more than 2% as a surge in government bond yields due to the prospect of higher interest rates, particularly in the US and UK, led a selloff in tech stocks. Also, signs of a slowdown in China's economy due to the Evergrande Group's debt crisis and a widening power shortage weighed on sentiment. Meanwhile, ECB President Christine Lagarde told the ECB Forum on Central Banking that there are no signs that recent price increases are becoming broad-based across the economy, while promising patience before policy tightening. On the data front, consumer confidence data from Germany and France came in better than market expectations.

WTI crude futures settled 0.2% lower at $75.29 per barrel on Tuesday, halting a 5-day rally, but remaining close to levels not seen since October 2018, as traders digested OPEC’s World Oil Outlook amid ongoing concerns about demand outstripping already tight supplies. The report warned that output is expected to remain below 2019 levels, even as demand recovers sharply, due to underinvestment in some OPEC+ producers. The organization expects demand to expand by 1.7 million bpd in 2023 to 101.6 million bpd. Meanwhile, operations at American oil platforms in the US Golf still lagged behind pre-hurricane levels and stock inventories of crude shrank to a 3-year low of 414 million barrels last week. Also, surging gas and coal prices in Europe are putting additional pressure on oil prices.

The Manufacturing Activity Index in the US fifth district including the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia dropped to -3 in September 2021, its lowest level since May 2020. The indexes for shipments and new orders declined to -1 and -19, respectively, also the lowest readings in 16 months. Meanwhile, the gauge for employment rose 2 points to +20. Manufacturers continued to see low inventories, lengthening lead times and backlogs of orders. In addition, firms reported weakening local business conditions, but they were optimistic that conditions would improve in the next six months.

Coal futures surged to a fresh record high of $210 per metric ton in late September, bringing the monthly gain to nearly 20% and the yearly to almost 160%. Several factors have been pushing coal prices up, including tight supply in China as the country vows to achieve emissions standards and reach carbon neutrality by 2060; a lack of mine investment reflecting pressure from socially conscious investors; imports constraints due to coronavirus restrictions and a surge in natural gas prices amid prospects of a shortage in inventories, specially in Europe. The power crunch is likely to stay given that environmental policies have deterred coal companies from investing in new mines to increase supply and forecasters predict an unusually cold winter season.