Economic Update 5-21-2018
- Economic data for the week came in generally strong, with retail sales, industrial and manufacturing data, jobless claims and leading indicators all coming in solidly positive. Housing starts, however, declined more than expected.
- U.S. equity markets were mixed on the week with large-caps underperforming small-caps, which gained. Emerging markets lost significant ground due to a variety of country-specific issues. Bond prices declined with rising rates, with the exception of bank loans. Commodities continued their push upward on the back of higher oil and agricultural prices.
Economic Update 5-14-2018
- Economic data for the week was highlighted by lower-than expected inflation as measured by PPI and CPI, decent consumer sentiment, as well as continued strong labor numbers.
- U.S. markets gained sharply last week, with foreign equities also performing positively, although to a lesser degree. Bonds were little changed, with corporates outperforming governments; foreign bonds lost a bit of ground overall. Commodity prices gained generally, due to an uptick in the price of crude oil sparked by the U.S.’s exit from the Iran nuclear deal.
Economic Update 5-07-2018
- Economic data for the week was highlighted by a FOMC meeting in which policy was left unchanged, some mixed to lower results for a variety of manufacturing and services indexes; the April employment situation report was mixed as well but continued to point to a strong underlying labor market.
- U.S. equity markets were mixed due to a waxing and waning of trade fears, while foreign stocks lost ground due to a stronger dollar. Bonds were flat in the U.S. with little changes in rates, while foreign issues had similar dollar effects. Commodities gained with higher prices in crude oil and metals.
Economic Update 4-30-2018
- Economic data for the week featured GDP for the first quarter coming in a bit better than expected, as were durable goods orders. In housing, home prices continued to rise, and home sales came in stronger than expected. Consumer sentiment/confidence also improved, as did jobless claims to multi-decade low levels.
- Equity markets were flattish to negative in the U.S., while positive results abroad were depressed by a stronger dollar. Traditional bonds were mixed as interest rates ticked higher before retreating. Commodities were also mixed as industrial and precious metals lost significant ground.
Economic Update 4-23-2018
- Economic data for the week was highlighted by stronger retail sales, industrial production and leading economic indicator reports, mixed manufacturing results, and lackluster housing data.
- U.S. equity markets rose for the week, beating foreign stocks, with help from a stronger dollar. Bonds lost significant ground as interest rates ticked higher. Commodities were led by gains in industrial metals and crude oil.
Economic Update 4-16-2018
- Economic data for the week included producer and consumer inflation reports that showed pricing ticking upward, as expected, while sentiment declined and labor data, while strong, came in below expectations.
- Global equities gained upon more tempered language between the U.S. and China over trade policy, while bonds succumbed to interest rates pushing higher. Commodity prices rose, led by oil’s jump as a result of expected military action in Syria.
Economic Update 4-09-2018
- Economic data for the week was led by weaker-but-still-robust reports for manufacturing and non-manufacturing activity, yet mixed results for jobless claims and a weaker-than-expected employment situation report for March—likely weather-affected.
- U.S. equity markets swung dramatically in both directions during the week, ending lower with ongoing market concerns over trade tariffs. European equities bucked the trend by gaining ground, while emerging markets declined. Bonds were flattish to slightly negative as interest rates ticked up again during the week. Commodities declined a few percent as positive results from non-energy groups were unable to offset declines in crude oil.