3/7/25: Markets Whipsawed by Trump’s Tariff Policy
Markets were whipsawed this week by President Trump’s tariff policy announcements, triggering the most significant trade war in decades.
2/28/25: Geopolitical Tensions and Trade Tariffs Drive Market Volatility
Geopolitical tensions took center stage as President Trump announced an additional 10% tariff on Chinese goods, triggering a sharp decline in Chinese equities.
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.
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.
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.
1/3/25: US Housing Market, Employment, and Manufacturing Insights
Although economic data was light in the final days of 2024 and first two days of 2025, further insight was provided this week regarding the US housing market, manufacturing, and employment.