7/28 – Weekly Economic Highlights
As was widely anticipated, this week the Federal Open Market Committee (FOMC) voted unanimously to raise the federal funds rate by 0.25% to a target range of 5.25% to 5.50%, the highest level in over 20 years. Fed Chair Powell maintained that the FOMC will remain data dependent going forward, and that they do not anticipate a recession, leaving the option open for the possibility of additional rate hikes in the future if needed.
7/21 – Weekly Economic Highlights
This week, market participants were focused on inflation and associated implications for monetary policy. The June Consumer Price Index (CPI) came in slightly below expected, with the headline CPI up 0.2% month-over-month and 3.0% year-over-year, decelerating from 4.0% year-over-year in May.
July 2023 – Bond Market Review
Market volatility has intensified as financial conditions tighten and global central banks pursue monetary policies to combat persistently high inflation and maintain financial market stability.
7/14 – Weekly Economic Highlights
This week, market participants were focused on inflation and associated implications for monetary policy. The June Consumer Price Index (CPI) came in slightly below expected, with the headline CPI up 0.2% month-over-month and 3.0% year-over-year, decelerating from 4.0% year-over-year in May.
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7/7 – Weekly Economic Highlights
The U.S. Bureau of Labor Statistics reported today that payrolls increased by 209,000 in June, falling short of consensus estimates. The sectors that experienced the strongest hiring were government, education and health services, social assistance, construction, professional and business services, and leisure and hospitality.
6/30 – Weekly Economic Highlights
On Wednesday Federal Reserve Chairman Jerome Powell at the ECB forum in Portugal signaled more tightening will be required to rein in inflation and was open to two straight rate hikes at coming meetings. In addition to comments from the Fed chief, financial markets received a lot of economic data this week inclusive of a key gauge of US inflation.
6/23 – Weekly Economic Highlights
This week, investors digested housing data which surprised to the upside. Total Housing Starts rose 21.7% month-over-month in May to 1,631,000 units from a downwardly revised 1,340,000 in April and were up 5.7% compared to May 2022.
6/16 – Weekly Economic Highlights
The Federal Open Market Committee (FOMC) met earlier this week and in a welcome development refrained from increasing the Fed Funds rate after nine straight rate increases of varying magnitudes.
June 2023 – Bond Market Review
Market volatility has intensified as financial conditions tighten and global central banks pursue monetary policies to combat persistently high inflation and maintain financial market stability.