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June 14 interest rate increase would be non-event

June 14 interest rate increase would be non-event

The consensus is that the Federal Reserve will raise rates by 25 basis points on June 14. And it’s a strong consensus, to put it mildly with the CME Fed Watch tool calculating that the Fed Funds Futures market is pricing in a 95.8% chance of an interest rate...
April new home sales disappoint

April new home sales disappoint

New home sales in April were at a seasonally adjusted annual rate of 569,000. That was well below the consensus among economists surveyed by Briefing.com for annualized sales of 605,000. The April annualized rate was down 11.4% from March. The housing market...
Markets rediscover risk–for a day anyway

Markets rediscover risk–for a day anyway

This morning it looks like the combination of turmoil in Washington and some weak economic data have led traders and investors to take money out of risk assets and put money into safe havens. As of 11:40 a.m. New York time, the Standard & Poor’s 500 was off...
U.S. GDP growth rate a tepid 0.7% in first quarter

U.S. GDP growth rate a tepid 0.7% in first quarter

The U.S. economy expanded at an annualized pace of 0.7% in the first quarter, the Commerce Department reported this morning. That’s the slowest pace in three years. Economists surveyed by Bloomberg were looking for growth of better than 1%. The Atlanta...
Jobs report not too hot, not too cold

Jobs report not too hot, not too cold

So how many lives does this Goldilocks market have, anyway? This morning the Bureau of Labor Statistics reported that the U.S. economy added just 98,000 jobs in March. That was the weakest gain since May 2015 and way under the 180,000 jobs expected by economists...