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.
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.
6/9 – Weekly Economic Highlights
Markets breathed a collective sigh of relief this week following the passing and signing of the Fiscal Responsibility Act of 2023, which effectively suspends the federal debt ceiling through January 1, 2025 and averted a potentially catastrophic US government default.
6/2 – Weekly Economic Highlights
This week market participants were focused on continued stress in the banking sector, the Federal Open Market Committee meeting, and the US labor market. Regional banks remain under pressure due to unrealized losses on long-term bond investments, exposure to commercial real estate lending, and reduced demand for low-yielding deposits. Concerns resurfaced in the market earlier this week causing a flight-to-quality rally in US treasuries.
5/26 – Weekly Economic Highlights
This week market participants were focused on continued stress in the banking sector, the Federal Open Market Committee meeting, and the US labor market. Regional banks remain under pressure due to unrealized losses on long-term bond investments, exposure to commercial real estate lending, and reduced demand for low-yielding deposits. Concerns resurfaced in the market earlier this week causing a flight-to-quality rally in US treasuries.
5/19 – Weekly Economic Highlights
This week market participants were focused on continued stress in the banking sector, the Federal Open Market Committee meeting, and the US labor market. Regional banks remain under pressure due to unrealized losses on long-term bond investments, exposure to commercial real estate lending, and reduced demand for low-yielding deposits. Concerns resurfaced in the market earlier this week causing a flight-to-quality rally in US treasuries.
5/12 – Weekly Economic Highlights
This week market participants were focused on continued stress in the banking sector, the Federal Open Market Committee meeting, and the US labor market. Regional banks remain under pressure due to unrealized losses on long-term bond investments, exposure to commercial real estate lending, and reduced demand for low-yielding deposits. Concerns resurfaced in the market earlier this week causing a flight-to-quality rally in US treasuries.