1/19 – Weekly Economic Highlights
Conference Board Leading Economic Indicators, S&P Global US Manufacturing and Services Purchasing Managers Indexes (PMI), Chicago Fed National Activity Index, Gross Domestic Product, Durable Goods Orders, New Home Sales, Personal Consumption Expenditures, Pending Home Sales.
1/12 – Weekly Economic Highlights
Financial markets were focused on the release of inflation data this week inclusive of both the Consumer Price Index (CPI) and Producer Price Index (PPI). The CPI increased to 0.3% month-over-month and 3.4% year-over-year in December, increasing from 3.1% year-over-year in November.
1/5 – Weekly Economic Highlights
Starting off the new year, the December employment report exceeded expectations by adding 216,000 jobs to the US economy, surpassing the consensus forecast of 175,000. Leading sectors in job gains included government (+52,000, primarily from local government positions), leisure and hospitality (+40,000), and healthcare (+38,000).
12/29 – Weekly Economic Highlights
Treasury yields continued to consolidate with rates ending the week marginally lower across all major benchmark tenors as the ‘holiday trading’ backdrop contributed to reduced volatility. Economic data releases were sparse but continue to show evidence of the consumers ability to navigate more restrictive monetary policy over the course of 2023.
12/22 – Weekly Economic Highlights
A sharp increase in Housing Starts was indicated on Tuesday as Total Housing Starts rose 14.8% month-over-month for the November period from a 0.2% increase in October. The pick-up in growth can be partially attributed to lower costs of construction materials and home builders adjusting projects to accommodate the higher interest rate environment.
12/15 – Weekly Economic Highlights
Financial market activity was dominated by the Federal Open Market Committee meeting this week. As expected at the December meeting, the FOMC voted unanimously to leave the federal funds rate unchanged at a target range of 5.25 – 5.50%.
December 2023 – Bond Market Review
Recent economic data continues to suggest positive but below trend growth this year. Labor markets remain solid, and the U.S. consumer has demonstrated resiliency.
12/8 – Weekly Economic Highlights
Economic data released this week presented a mixed picture. The U.S. economy grew at an annualized rate of 5.2% in the third quarter, revised up from the initial estimate of 4.9%, with the upward revisions driven by business investment and government spending.
Investment Policy Statements for California Entities: Updates for 2024 Policies
While mirroring CGC as closely as possible is ideal, it is a common practice for local governments to adopt investment policies more restrictive than CGC by incorporating industry best practices and recommendations offered by California Debt and Investment Advisory Commission (CDIAC), Government Finance Officers Association (GFOA), Association of Public Treasurers (APT) and California Municipal Treasurers Association (CMTA). The IPS should not only include specific language within CGC guidelines, but also reflect risk tolerance levels and values of your entity.
12/1 – Weekly Economic Highlights
Economic data released this week presented a mixed picture. The U.S. economy grew at an annualized rate of 5.2% in the third quarter, revised up from the initial estimate of 4.9%, with the upward revisions driven by business investment and government spending.