Economic Update 07-27-2021 Economic data for the week included gains in existing home sales and housing starts, along with continued rising prices and tight inventory. Jobless claims were mixed, with seasonal effects affecting near-term claims, while continuing claims showed ongoing improvement. U.S. equity markets rebounded into positive territory last week after a sharp Monday downturn, […]

Economic Update 07-19-2021 Economic data for the week included strong consumer and producer inflation readings, as well as improvements in retail sales and industrial production. Jobless claims also continued to fall, while consumer confidence waned a bit. Stocks were mixed globally last week—the U.S. and developed foreign markets lost ground, while emerging markets gained. Bonds […]

Economic Update 07-12-2021 During an abbreviated week, economic data included a decline in services sentiment, although the measure remained quite strong. Job openings improved, while jobless claims were mixed—as initial claims rose but continuing claims sustained their decline. U.S. equity markets gained slightly last week, outperforming foreign—especially emerging markets which fell back sharply. Bonds in […]

Economic Update 07-06-2021 Economic data for the week included a jobs report that came in a bit better than expected, in addition to strength in consumer confidence, home prices, and other labor metrics such as improved jobless claims. On the other hand, manufacturing sentiment declined a bit—but remained at a very high level. U.S. equity […]

Economic Update 06-28-2021 Economic data for the week included unchanged GDP growth for the prior quarter, as well as stronger durable goods orders and jobless claims, while both existing and new home sales fell along with continued low inventories. Global equity markets gained last week, led by the U.S., and particularly in small cap, due […]

Economic Update 06-21-2021 Economic data for the week included strength in industrial production and housing starts, but offset by weaker retail sales results. Initial jobless claims rose slightly, although the overall rolls continue to improve. The U.S. Federal Reserve kept interest rates on hold (at zero), as expected, but several committee members assumed some tightening […]

  The Federal Reserve Open Market Committee made no changes in monetary policy today, keeping the target short-term interest rate at 0.00-0.25%. The official statement was little changed in substance, with wording about the hardship caused by the Covid-19 pandemic replaced by the improvement due to wider vaccinations.

Economic Update 06-14-2021 Economic data for the week included stronger consumer inflation results, as well as higher job openings, and continued decline in the number of weekly jobless claims. U.S. and European equity markets saw further gains, with accommodative policy and tempered longer-term inflation expectations swaying sentiment. Bonds earned positive returns as well, along with […]

Economic Update 06-07-2021 On a Memorial-Day shortened week, economic data included strong results for manufacturing and services indexes. Employment numbers were mixed, as jobless claims improved, as did the employment situation report number, although the latter fell short of market expectations. Global equity markets earned positive returns last week, with stronger economic data coupled with […]

Economic Update 06-01-2021 Economic data for the week included largely unchanged Q1 GDP estimates, and a decline in durable goods orders. On the housing side, prices continue to show strong momentum, while sales fell due to increasingly tight inventories. Jobless claims continued to improve and point to labor market repair. Global equity markets continued to […]