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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 26, 2021
Page
11
U S policymakers push for a closer U S Canada partnership to bolster critical minerals for electric vehicle demand. Canada aims to be a premium supplier with transparent chains and strong environmental and labor standards, aiding the U S and EU goals while competing with China and other allies.
The University of Michigan final sentiment index rose to 85.5 in June from 82.9 in May, below the Bloomberg median estimate of 86.5 and shy of the preliminary 86.4. The report notes price references for homes vehicles and durables have become the most negative in a decade while job and income prospects improved but not as much as earlier. The sentiment gauge remains the second-highest since the pandemic began and reflects ongoing reopening and lower COVID-19 infections.
Freddie Mac reports the 30 year mortgage average at 3.02 percent up from 2.93 percent. Chief economist Sam Khater says rates will gradually rise in the second half as inflation stays elevated. Housing demand remains strong and many borrowers could benefit from refinancing now.
The Iowa Supreme Court ruled 4 3 that employers cannot subject all warehouse workers to random drug testing by labeling them safety sensitive. The decision requires considering duties of each worker rather than job location, under a 1998 law governing unannounced tests.
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