Latest Insights

Economic data remain somewhat mixed and we believe the ongoing health crisis and related supply chain bottlenecks continue to have a meaningful impact. Nevertheless, we believe the underlying momentum of the economy remains strong.

As expected, the Federal Open Market Committee (FOMC) kept monetary policy unchanged at its meeting this week but clearly signaled that they are preparing to reduce the magnitude of (i.e. taper) their asset purchases.

Retail sales were stronger than expected in August, up 0.7% month-over-month versus expectations for a 0.7% decline.