Economic Update 03-16-2020
- In a very light week for economic data, producer prices fell sharply in February, while consumer prices increased slightly. Consumer sentiment also declined a bit, likely in keeping with uncertainty over coronavirus effects. However, over the weekend, the Federal Reserve cut rates by a percent again to near zero in an effort to help stem economic damage.
- Global equity markets were severely challenged, to say the least, with U.S. markets experiencing their worst one-day percentage drop since 1987, and worst overall week since the financial crisis, bringing declines into bear market territory. Bonds lost ground on net, with yields rebounding after hitting all-time lows for some maturities. Commodities also fared poorly, with continued weakness in oil prices.
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LSA Connect, March 16, 2020
