Recent Posts

Markets Face Tariffs

Trade policy uncertainty continued to shape financial markets this week as replacement tariffs under Section 122 of the Trade Act

Economic Data Signals Resilience

There was a plethora of economic data releases this week with most indicating the resilient economic backdrop remains in place.

January 2026 Bond Market Review

December economic data signaled moderating inflation alongside a continued rebalancing in labor market conditions, with price pressures still running modestly

5/7– Weekly Economic Highlights

The economy added far fewer jobs than expected in April. U.S. nonfarm payrolls increased by 266,000, versus the Bloomberg consensus forecast of 1,000,000. March payrolls were also revised down by 146,000. On a trailing 3-month and 6-month basis, payrolls increased by an average of 524,000 and 294,000 per month, respectively. Payrolls in the leisure and hospitality sector have been driving the job gains in recent months and were up 331,000 in April. Meanwhile, multiple sectors lost jobs in April, including transportation and warehousing, motor vehicle and parts manufacturing, and retail trade. The unemployment rate ticked higher to 6.1% in April from 6.0% in March, as the participation rate increased to 61.7% from 61.5%. Workers who classified themselves as employed but absent from work in April continued to understate the unemployment rate by about 0.3%. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons, declined to 10.4% in April from 10.7% in March.

READ MORE