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2/21/25: US Economic Update: FOMC Minutes, Housing Market Trends, and Jobless Claims
Although economic data was light this holiday shortened week, market participants gained further insight into the possible path forward for monetary policy through the release of the Federal Open Market Committee (FOMC) meeting minutes as well as trends in the US housing market.
February 2025 – 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.
2/14/25: US Economic Update: CPI, PPI, Retail Sales, and Treasury Rates
This week’s economic data provided valuable insight into the state of the consumer and inflation. The headline Consumer Price Index (CPI) accelerated to 0.5% m/m and 3.0% y/y in January. The Core CPI, which excludes the volatile food and energy sectors, jumped 0.4% m/m and 3.3% y/y.
2/7/25: Positive Economic Data Supports US Economic Outlook
Against a backdrop of predominantly positive economic data this week, Treasury yields remain at the lower end of the year-to-date range, supportive of a constructive outlook for the US economy in 2025.
1/31/25: Inflation, GDP, Job Market, and Fed’s Stance on Monetary Policy
Progress on inflation came into focus with the Personal Consumption Expenditures (PCE) index data from December. Headline PCE was in line with consensus expectations both on a month-over-month, at 0.3%, and on a year-over-year basis at 2.6%. The Fed’s preferred gauge, Core PCE, was unchanged from the prior month at 2.8% year-over-year. Yet, Core PCE increased from 0.1% to 0.2% month-over-month, raising some concerns over the pace of slowing inflation.
1/24/25: Market Overview: US Economic Data, Emerging Policies, and Corporate Earnings
Market participants focused on inflation this week, along with trends in consumer spending. Inflation readings for December moderated, which should provide the Fed with more confidence in progress toward their inflation target as they approach the next policy meeting on January 28th and 29th.
January 2025 – 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.
1/17/25: Inflation Moderates in December, Strengthening Fed Confidence
Market participants focused on inflation this week, along with trends in consumer spending. Inflation readings for December moderated, which should provide the Fed with more confidence in progress toward their inflation target as they approach the next policy meeting on January 28th and 29th.
1/10/25: Resilient U.S. Labor Market Drives Economic Outlook
Market participants focused on better-than-expected labor market data this week, highlighting the resilience of the U.S. economy.