Economic Update 2-04-2019
- Economic data for the week included no change in the Federal Reserve’s policy interest rate, and more mixed results from housing, while positive results originated from ISM manufacturing data and labor markets, particularly the employment situation for January.
- U.S. equity markets gained for the week, with foreign equities just behind. Bonds eked out a minor gain as interest rates declined along the yield curve. Commodities rose a bit upon a further recovery in crude oil prices.
Economic Update 1-28-2019
• Economic data for the week was again limited by the government shutdown, and consisted of stronger house prices but weaker existing home sales, a tick down in the incomplete leading economic indicators, and sharply better and again record-breaking jobless claims.
• Global equity markets were mixed with foreign stocks outperforming U.S., with the help of a weaker dollar. Bonds gained slightly, as lower interest rates outweighed other factors, with foreign also outperforming due to currency effects. Commodities were down overall, with natural gas prices dropping sharply.
Economic Update 1-14-2019
- Economic data for the week was lighter than usual, due to the Federal government shutdown, but was highlighted by a tempered but still-strong ISM services report, pullback in consumer inflation, decent labor data and release of the minutes from the last Fed meeting.
- Global equity markets recovered by several percent, in a continued effort to shake off the bear market of last quarter. Bonds were mixed, with interest rates inching higher. Commodities gained ground, again led by a recovery in crude oil pricing.
Economic Update 1-07-2019
- Economic data was sparse in the first week of the new year, with ISM manufacturing data disappointing, but employment numbers came in much stronger than expected.
- U.S. equity markets recovered during the week, largely due to Friday’s job news and optimistically-received Fed remarks; international stocks were not far behind, with more tempered gains. Bonds also gained a bit of ground along with lower interest rates. Commodities earned positive returns, due to a recovery in crude oil prices.
Economic Update 12-17-2018
- Economic data for the week came in mixed to decent, with retail sales a bit stronger than expected, continued strength in job openings and jobless claims, as well as tempered producer and consumer inflation results.
- U.S. equity markets declined over fears of possible slowing growth, as did foreign stocks, with small gains turned to losses after being adjusted for a stronger dollar. Bonds were mixed, with impacts dependent on duration, credit quality and currency last week. Commodities lost ground due to the stronger dollar and continued falling energy prices.
Economic Update 12-10-2018
- Economic data for the week was highlighted by stronger results for ISM reports in manufacturing and services, while factory orders and employment numbers for November came in showing slower growth than expected.
- Global equity markets slumped, with foreign faring a bit better than U.S. with help from a weaker dollar. Government bonds performed well, being the recipient of investor flows. Commodities rebounded as well, as crude oil prices rebounded higher.
Economic Update 11-26-2018
- On a holiday-shortened week, economic data consisted of growth, albeit at a tempered pace, of the Leading Economic Indicators, mixed housing data and jobless claims, as well as weaker durable goods orders and consumer sentiment.
- Global equity markets declined for another week, as all regions fell back in unison. Bonds were mixed as U.S. high quality bonds were little changed, but foreign bonds were negatively impacted by a stronger dollar. Commodities were again punished by another large decline in the price of crude oil.