October 2021 – Bond Market Review
The ongoing health crisis and related supply chain bottlenecks continue to have a meaningful impact on economic data, but we believe the underlying momentum of the economy remains strong.
September 2021 – Bond Market Review
While we believe the economy continues to grow at an above-trend pace, some economists have tempered their expectations for US real gross domestic product (GDP) through year-end.
August 2021 – Bond Market Review
The Federal Open Market Committee (FOMC) kept monetary policy unchanged in July. The fed funds target rate remains in the range of 0.0% to 0.25%, and the Fed continues to purchase $80 billion of Treasuries per month, and $40 billion of agency mortgage-backed securities per month.
July 2021 – Bond Market Review
The Federal Open Market Committee (FOMC) kept monetary policy unchanged in June. The Fed has started to discuss the idea of reducing its asset purchases at some point, but that decision remains uncertain. FOMC members’ updated economic projections also suggest that the Fed may start to raise interest rates in 2023.
June 2021 – Bond Market Review
Estimates for US gross domestic product (GDP) growth this year have been revised higher. The current Bloomberg consensus estimate for 2021 US GDP growth is 5.5% (following a 3.5% decline last year). Although the labor market is still a long way from a full recovery, robust fiscal support should help support the economy in the […]
May 2021 – Bond Market Review
3/26– Weekly Economic Highlights
April 2021 – Bond Market Review
Estimates for US gross domestic product (GDP) growth this year have been revised higher. The current Bloomberg consensus estimate for 2021 US GDP growth is 5.5% (following a 3.5% decline last year). Although the labor market is still a long way from a full recovery, robust fiscal support should help support the economy in the […]
March 2021 – Bond Market Review
Estimates for US gross domestic product (GDP) growth this year have been revised higher. The current Bloomberg consensus estimate for 2021 US GDP growth is 5.5% (following a 3.5% decline last year). Although the labor market is still a long way from a full recovery, robust fiscal support should help support the economy in the […]
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 […]
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 […]