Epoxy
June 27, 2022
Durable Goods Jump
US Durable Goods Orders Unexpectedly Jumped In May
by Tyler DurdenMonday, Jun 27, 2022 – 08:35 AM
With PMIs sinking rapidly and macro surprise indices crashing, analysts remained optimistic of a continued rise (albeit a small 0.1% MoM) in US durable goods orders in preliminary May data. It turns out they were ‘under’-optimistic as durable goods orders surged 0.7% MoM (with a small downward revision from +0.5% to +0.4% MoM in April).
Source: Bloomberg
That is the 3rd straight monthly increase in orders and pushes them up 12.0% YoY.
Ex Transports, orders rose 0.7% MoM – beating expectations of +0.3%.
The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, rose 0.5% after a 0.3% gain a month earlier.
Finally, Shipments soared by 0.8% MoM – 4 times the 0.2% MoM expected.
None of this data helps the current ‘growth scare dominates inflation fears’ narrative… as ‘good news’ is now ‘bad news’.
https://www.zerohedge.com/economics/us-durable-goods-orders-unexpectedly-jumped-may
June 27, 2022
Durable Goods Jump
US Durable Goods Orders Unexpectedly Jumped In May
by Tyler DurdenMonday, Jun 27, 2022 – 08:35 AM
With PMIs sinking rapidly and macro surprise indices crashing, analysts remained optimistic of a continued rise (albeit a small 0.1% MoM) in US durable goods orders in preliminary May data. It turns out they were ‘under’-optimistic as durable goods orders surged 0.7% MoM (with a small downward revision from +0.5% to +0.4% MoM in April).
Source: Bloomberg
That is the 3rd straight monthly increase in orders and pushes them up 12.0% YoY.
Ex Transports, orders rose 0.7% MoM – beating expectations of +0.3%.
The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, rose 0.5% after a 0.3% gain a month earlier.
Finally, Shipments soared by 0.8% MoM – 4 times the 0.2% MoM expected.
None of this data helps the current ‘growth scare dominates inflation fears’ narrative… as ‘good news’ is now ‘bad news’.
https://www.zerohedge.com/economics/us-durable-goods-orders-unexpectedly-jumped-may
June 27, 2022
IRS Issues Excise Tax Rates
IRS issues Superfund chemical excise tax rates
- Topics in the News
- News Releases
- Multimedia Center
- Tax Relief in Disaster Situations
- Tax Reform
- Taxpayer First Act
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- e-News Subscriptions
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- IRS Statements and Announcements
IR-2022-132, June 24, 2022
WASHINGTON — The Internal Revenue Service announced today that it has prescribed tax rates for 121 taxable substances that are subject to the Superfund chemical excise tax imposed by section 4671(a) of the Internal Revenue Code (Code).
Taxable substances are those substances listed in either section 4672(a)(3) of the Code or Notice 2021-66. Substances may be added or removed from the list of taxable substances at a later date.
The rates will be included in the instructions to Form 6627, Environmental Taxes, and under Recent Developments for Form 6627, Environmental Taxes.
| Taxable Substance | Tax Rate per Ton |
|---|---|
| 1,3-butylene glycol | $ 7.28 |
| 1,4 butanediol | $ 4.68 |
| 1,5,9-cyclododecatriene | $ 9.74 |
| 2-ethyl hexanol | $ 7.16 |
| 2-ethylhexyl acrylate | $ 7.34 |
| acetone | $ 20.06 |
| acetylene black | $ 10.52 |
| acrylic acid resins | $ 5.65 |
| methacrylic acid resins | $ 14.94 |
| acrylonitrile | $ 9.38 |
| adipic acid | $ 6.13 |
| adiponitrile | $ 8.57 |
| allyl chloride | $ 10.38 |
| alpha-methylstyrene | $ 9.93 |
| ammonium nitrate | $ 1.49 |
| aniline | $ 9.40 |
| benzaldehyde | $ 8.47 |
| benzoic acid | $ 7.31 |
| bisphenol-A | $ 10.23 |
| butanol | $ 6.31 |
| butyl acrylate | $ 6.84 |
| butyl benzyl phthalate | $ 12.15 |
| carbon tetrachloride | $ 10.62 |
| chlorinated polyethylene | $ 10.25 |
| chloroform | $ 10.51 |
| chromic acid | $ 4.37 |
| cumene | $ 9.74 |
| cyclododecanol | $ 9.05 |
| cyclohexane | $ 10.02 |
| decabromodiphenyl oxide | $ 17.99 |
| di-2 ethyl hexyl phthalate | $ 7.37 |
| diethanolamine | $ 6.01 |
| diglycidyl ether of bisphenol-A | $ 13.86 |
| diisopropanolamine | $ 12.76 |
| dimethyl terephthalate | $ 5.91 |
| dimethyl-2, 6-naphthalene dicarboxylate | $ 6.81 |
| di-n-hexyl adipate | $ 8.23 |
| diphenyl oxide | $ 13.73 |
| diphenylamine | $ 10.28 |
| epichlorohydrin | $ 12.89 |
| ethyl acrylate | $ 4.09 |
| ethyl alcohol for nonbeverage use | $ 5.94 |
| ethyl chloride | $ 4.52 |
| ethyl methyl ketone | $ 7.60 |
| ethyl benzene | $ 9.74 |
| ethylene dibromide | $ 9.03 |
| ethylene dichloride | $ 6.62 |
| ethylene glycol | $ 4.38 |
| ethylene oxide | $ 6.23 |
| ferrochrome ov 3 pct. carbon | $ 4.83 |
| ferrochromium nov 3 pct | $ 4.83 |
| hexabromocyclododecane | $ 9.11 |
| hexamethylenediamine | $ 8.93 |
| isobutyl acetate | $ 4.47 |
| Isophthalic acid | $ 6.23 |
| isopropyl acetate | $ 4.54 |
| Isopropyl alcohol | $ 6.82 |
| linear alpha olefins | $ 9.74 |
| maleic anhydride | $ 5.75 |
| melamine | $ 4.28 |
| methyl acrylate | $ 5.39 |
| methyl chloroform | $ 6.37 |
| methyl isobutyl ketone | $ 23.65 |
| methyl methacrylate | $ 14.75 |
| methylene chloride | $ 10.33 |
| monochlorobenzene | $ 10.12 |
| monoethanolamine | $ 5.96 |
| monoisopropanolamine | $ 11.74 |
| nickel oxide | $ 7.03 |
| normal butyl acetate | $ 4.47 |
| normal propyl acetate | $ 3.73 |
| nylon 6/6 | $ 8.67 |
| ortho-dichlorobenzene | $ 10.35 |
| ortho-nitrochlorobenzene | $ 7.49 |
| para-dichlorobenzene | $ 10.35 |
| para-nitrochlorobenzene | $ 7.49 |
| para-nitrophenol | $ 8.59 |
| pentaerythritol | $ 3.86 |
| perchloroethylene | $ 10.89 |
| phenol | $ 12.47 |
| phenolic resins | $ 9.86 |
| phosphorous pentasulfide | $ 2.49 |
| phosphorous trichloride | $ 6.21 |
| phthalic anhydride | $ 7.01 |
| poly 1,4 butyleneterephthalate | $ 7.21 |
| poly(propylene)glycol | $ 10.38 |
| poly(propylene/ethylene)glycol | $ 8.84 |
| poly(propyleneoxy)sucrose | $ 2.04 |
| poly(propyleneoxy/ethyleneoxy)sucrose | $ 2.57 |
| polyalphaolefins | $ 11.37 |
| polybutadiene | $ 9.74 |
| polybutene | $ 9.74 |
| polybutylene | $ 9.74 |
| polybutylene/ethylene | $ 9.74 |
| polycarbonate | $ 10.84 |
| polyethylene resins, total | $ 9.74 |
| polyethylene terephthalate pellets | $ 6.82 |
| polypropylene | $ 9.74 |
| polypropylene resins | $ 9.74 |
| polystyrene homopolymer resins | $ 9.93 |
| polyvinylchloride resins | $ 7.46 |
| propanol | $ 5.47 |
| propylene glycol | $ 10.38 |
| propylene oxide | $ 13.60 |
| styrene | $ 9.93 |
| styrene-butadiene, latex | $ 9.84 |
| synthetic linear fatty alcohol ethoxylates | $ 7.12 |
| synthetic linear fatty alcohols | $ 9.29 |
| terephthalic acid | $ 6.23 |
| tetrabromobisphenol-A | $ 14.79 |
| tetrachlorophthalic anhydride | $ 8.95 |
| tetrahydrofuran | $ 5.78 |
| toluene diisocyanate | $ 10.85 |
| toluenediamine | $ 9.18 |
| trichloroethylene | $ 10.79 |
| triethanolamine | $ 6.04 |
| triisopropanolamine | $ 12.84 |
| trimethylolpropane | $ 4.63 |
| urea | $ 3.01 |
| vinyl acetate | $ 3.83 |
| vinyl chloride | $ 7.46 |
https://www.irs.gov/newsroom/irs-issues-superfund-chemical-excise-tax-rates
June 27, 2022
IRS Issues Excise Tax Rates
IRS issues Superfund chemical excise tax rates
- Topics in the News
- News Releases
- Multimedia Center
- Tax Relief in Disaster Situations
- Tax Reform
- Taxpayer First Act
- Tax Scams/Consumer Alerts
- The Tax Gap
- Fact Sheets
- IRS Tax Tips
- e-News Subscriptions
- IRS Guidance
- Media Contacts
- IRS Statements and Announcements
IR-2022-132, June 24, 2022
WASHINGTON — The Internal Revenue Service announced today that it has prescribed tax rates for 121 taxable substances that are subject to the Superfund chemical excise tax imposed by section 4671(a) of the Internal Revenue Code (Code).
Taxable substances are those substances listed in either section 4672(a)(3) of the Code or Notice 2021-66. Substances may be added or removed from the list of taxable substances at a later date.
The rates will be included in the instructions to Form 6627, Environmental Taxes, and under Recent Developments for Form 6627, Environmental Taxes.
| Taxable Substance | Tax Rate per Ton |
|---|---|
| 1,3-butylene glycol | $ 7.28 |
| 1,4 butanediol | $ 4.68 |
| 1,5,9-cyclododecatriene | $ 9.74 |
| 2-ethyl hexanol | $ 7.16 |
| 2-ethylhexyl acrylate | $ 7.34 |
| acetone | $ 20.06 |
| acetylene black | $ 10.52 |
| acrylic acid resins | $ 5.65 |
| methacrylic acid resins | $ 14.94 |
| acrylonitrile | $ 9.38 |
| adipic acid | $ 6.13 |
| adiponitrile | $ 8.57 |
| allyl chloride | $ 10.38 |
| alpha-methylstyrene | $ 9.93 |
| ammonium nitrate | $ 1.49 |
| aniline | $ 9.40 |
| benzaldehyde | $ 8.47 |
| benzoic acid | $ 7.31 |
| bisphenol-A | $ 10.23 |
| butanol | $ 6.31 |
| butyl acrylate | $ 6.84 |
| butyl benzyl phthalate | $ 12.15 |
| carbon tetrachloride | $ 10.62 |
| chlorinated polyethylene | $ 10.25 |
| chloroform | $ 10.51 |
| chromic acid | $ 4.37 |
| cumene | $ 9.74 |
| cyclododecanol | $ 9.05 |
| cyclohexane | $ 10.02 |
| decabromodiphenyl oxide | $ 17.99 |
| di-2 ethyl hexyl phthalate | $ 7.37 |
| diethanolamine | $ 6.01 |
| diglycidyl ether of bisphenol-A | $ 13.86 |
| diisopropanolamine | $ 12.76 |
| dimethyl terephthalate | $ 5.91 |
| dimethyl-2, 6-naphthalene dicarboxylate | $ 6.81 |
| di-n-hexyl adipate | $ 8.23 |
| diphenyl oxide | $ 13.73 |
| diphenylamine | $ 10.28 |
| epichlorohydrin | $ 12.89 |
| ethyl acrylate | $ 4.09 |
| ethyl alcohol for nonbeverage use | $ 5.94 |
| ethyl chloride | $ 4.52 |
| ethyl methyl ketone | $ 7.60 |
| ethyl benzene | $ 9.74 |
| ethylene dibromide | $ 9.03 |
| ethylene dichloride | $ 6.62 |
| ethylene glycol | $ 4.38 |
| ethylene oxide | $ 6.23 |
| ferrochrome ov 3 pct. carbon | $ 4.83 |
| ferrochromium nov 3 pct | $ 4.83 |
| hexabromocyclododecane | $ 9.11 |
| hexamethylenediamine | $ 8.93 |
| isobutyl acetate | $ 4.47 |
| Isophthalic acid | $ 6.23 |
| isopropyl acetate | $ 4.54 |
| Isopropyl alcohol | $ 6.82 |
| linear alpha olefins | $ 9.74 |
| maleic anhydride | $ 5.75 |
| melamine | $ 4.28 |
| methyl acrylate | $ 5.39 |
| methyl chloroform | $ 6.37 |
| methyl isobutyl ketone | $ 23.65 |
| methyl methacrylate | $ 14.75 |
| methylene chloride | $ 10.33 |
| monochlorobenzene | $ 10.12 |
| monoethanolamine | $ 5.96 |
| monoisopropanolamine | $ 11.74 |
| nickel oxide | $ 7.03 |
| normal butyl acetate | $ 4.47 |
| normal propyl acetate | $ 3.73 |
| nylon 6/6 | $ 8.67 |
| ortho-dichlorobenzene | $ 10.35 |
| ortho-nitrochlorobenzene | $ 7.49 |
| para-dichlorobenzene | $ 10.35 |
| para-nitrochlorobenzene | $ 7.49 |
| para-nitrophenol | $ 8.59 |
| pentaerythritol | $ 3.86 |
| perchloroethylene | $ 10.89 |
| phenol | $ 12.47 |
| phenolic resins | $ 9.86 |
| phosphorous pentasulfide | $ 2.49 |
| phosphorous trichloride | $ 6.21 |
| phthalic anhydride | $ 7.01 |
| poly 1,4 butyleneterephthalate | $ 7.21 |
| poly(propylene)glycol | $ 10.38 |
| poly(propylene/ethylene)glycol | $ 8.84 |
| poly(propyleneoxy)sucrose | $ 2.04 |
| poly(propyleneoxy/ethyleneoxy)sucrose | $ 2.57 |
| polyalphaolefins | $ 11.37 |
| polybutadiene | $ 9.74 |
| polybutene | $ 9.74 |
| polybutylene | $ 9.74 |
| polybutylene/ethylene | $ 9.74 |
| polycarbonate | $ 10.84 |
| polyethylene resins, total | $ 9.74 |
| polyethylene terephthalate pellets | $ 6.82 |
| polypropylene | $ 9.74 |
| polypropylene resins | $ 9.74 |
| polystyrene homopolymer resins | $ 9.93 |
| polyvinylchloride resins | $ 7.46 |
| propanol | $ 5.47 |
| propylene glycol | $ 10.38 |
| propylene oxide | $ 13.60 |
| styrene | $ 9.93 |
| styrene-butadiene, latex | $ 9.84 |
| synthetic linear fatty alcohol ethoxylates | $ 7.12 |
| synthetic linear fatty alcohols | $ 9.29 |
| terephthalic acid | $ 6.23 |
| tetrabromobisphenol-A | $ 14.79 |
| tetrachlorophthalic anhydride | $ 8.95 |
| tetrahydrofuran | $ 5.78 |
| toluene diisocyanate | $ 10.85 |
| toluenediamine | $ 9.18 |
| trichloroethylene | $ 10.79 |
| triethanolamine | $ 6.04 |
| triisopropanolamine | $ 12.84 |
| trimethylolpropane | $ 4.63 |
| urea | $ 3.01 |
| vinyl acetate | $ 3.83 |
| vinyl chloride | $ 7.46 |
https://www.irs.gov/newsroom/irs-issues-superfund-chemical-excise-tax-rates
June 24, 2022
New Home Sales
New Home Sales Unexpectedly Rebounded In May As Prices Plunged
by Tyler DurdenFriday, Jun 24, 2022 – 10:13 AM
Following the disappointing tumble in existing home sales (to 2 year lows), analysts expect a modest drop in new home sales in May of just 0.2% MoM (after April’s 16.6% MoM plunge). Instead, new home sales spiked 10.7% MoM (from an updwardly revised -12% MoM print in April) – despite soaring mortgage rates…
Source: Bloomberg
New home sales SAAR bounced from near COVID lockdown lows to 696k from an upwardly revised 629k…
Source: Bloomberg
New Home average price tumbles from $569.5K to $511.4K, the lowest since Jan.
New home prices are falling relative to existing home prices…
Earlier this month, the average rate for a 30-year loan posted its largest one-week increase since the 1980s. It’s risen even further since then.
“Supply remains limited across the country,” Miller said.
“Clearly, production must catch up to the growing household numbers as production of dwellings over the past decade has lagged prior decades by as many as 5 million homes.”
A separate report out last week showed US homebuilder sentiment slid to a two-year low in June, the sixth-straight decline, as rising inflation and higher mortgage rates weighed on demand.
The pickup in sales may also reflect some buyers locking in their mortgage rate in anticipation of even higher borrowing costs.
https://www.zerohedge.com/personal-finance/new-home-sales-unexpectedly-rebounded-may-prices-plunged
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