February 16-18: Chandler Attends the 2021 CSMFO Virtual Conference & Exhibition
We are excited to attend the California Society of Municipal Finance Officers (CSMFO)’s Virtual Conference & Exhibition. Chandler is pleased to be an exhibitor and a sponsor. Our professionals will be participating as panelists and passing on their knowledge as industry experts. Tuesday, February 16th: Carlos Oblites, Senior Portfolio Strategist is participating as a speaker […]
February 2021 – Bond Market Review
We believe financial market participants are mostly shrugging off current economic data, which have been somewhat soft (including last week’s employment report), in anticipation of a stronger recovery later this year. The recent passage of a $900 billion COVID-19 fiscal relief bill should help cushion the economy over the next few months, and an additional […]
2/5– Weekly Economic Highlights
The labor market remained under pressure in January. U.S. nonfarm payrolls were up just 49,000 in January, versus the Bloomberg consensus forecast of 105,000. December payrolls were revised down by 87,000 to ‑227,000. On a seasonally adjusted basis, the increase in January payrolls was led by an 80,900 net gain in temporary help services and […]
1/29– Weekly Economic Highlights
The Federal Open Market Committee (FOMC) kept monetary policy unchanged at their meeting this week as expected, with the fed funds target rate in a range of 0.0% to 0.25%. The Fed also continues to purchase $80 billion of Treasuries per month, and $40 billion of agency mortgage-backed securities per month. The decision among voting […]
1/22– Weekly Economic Highlights
Housing market momentum remained solid heading into 2021. Total housing starts increased 5.8% in December to an annual pace of 1,669,000 (the strongest rate since 2006). Single family starts jumped 12.0% to an annualized rate of 1,338,000, while multi-family starts declined 13.6% to an annualized rate of 331,000. On a year-over-year basis, total housing starts […]
1/15– Weekly Economic Highlights
Retail sales momentum slowed during the holiday shopping season. On a year-over-year basis, retail sales were up 2.9% in December versus 3.7% in November. On a month-over-month basis, retail sales declined 0.7% in December, following a 1.4% decline in November. The month-over-month declines were broad-based in December on a seasonally adjusted basis, with outsized declines […]
January 2021 – Bond Market Review
While we remain optimistic about the longer-term outlook, recent economic data suggests that the economy has lost momentum as virus cases have risen. We believe the near-term will remain challenging as the labor market remains under pressure and many regions have renewed business restrictions due to the virus. However, the passage of a new $900 […]
1/8– Weekly Economic Highlights
U.S. nonfarm payrolls declined by 140,000 in December. It was the first monthly decline in nonfarm payrolls since April of last year and came in well below expectations for a 50,000 gain. The monthly decline was led by the leisure and hospitality sector which experienced a 498,000 net decline in payrolls in December, along with […]
12/31– Weekly Economic Highlights
After several months of tense negotiations, Congress compromised on a $900 billion fiscal relief package, and President Trump signed the bill on Sunday. This latest relief package follows about $2.7 trillion approved earlier this year. The legislation provides funding for a variety of programs and includes another round of direct household payments, an extension of […]
12/18– Weekly Economic Highlights
Recent economic data suggests that the economy has lost momentum as virus cases have risen. We anticipated that economic data would soften during the winter months, and believe the near-term outlook remains challenging as the labor market remains under pressure, many regions have renewed business restrictions due to the virus, and fiscal support remains delayed. […]