Market Week: May 29, 2023
10-year Treasury yields have climbed by roughly 38bps to 3.80% in May, their highest level since SVB collapsed, reflecting the market’s improved optimism for economic growth and shifting expectations for monetary policy.
Market Week: May 15, 2023
Following the Federal Reserve’s (Fed’s) decision to raise the federal funds rate to a range of 5.00%-5.25%, investors scoured April’s CPI report and the 1Q Senior Loan Officer Survey in an attempt to get a sense of the Fed’s next steps.
Market Week: May 08, 2023
Recent data have shown a loss of economic momentum, with declining job openings, tightening lending conditions and surveys indicating lower business spending and hiring plans..
Market Week: May 01, 2023
The week in review Consumer confidence fell to 101.3 Prelim. 1Q23 GDP came in below consensus at 1.1% Headline/Core PCE: 4.2%/4.6% y/y The week ahead FOMC meeting JOLTS Mfg. and services PMIs Employment Thought of the week At the March meeting, 17 out of 18 FOMC...
Market Week: April 24, 2023
On the back of rising mortgage rates, construction activity cratered in 2H 2022, with housing starts falling by 40% and 14% annualized in 3Q22 and 4Q22, respectively…
Market Week: April 17, 2023
The 1Q 2023 earnings season is underway, with the large U.S. banks releasing results last Friday. Current analyst estimates are tracking operating earnings per share (EPS) of $49.54 ($39.73 ex-financials), representing y/y growth of 0.4% and a q/q decline of 1.6%.