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Financial News for the Week of January 20th, 2023
Financial News Highlights Markets finished the week lower on weaker economic data and rising political risks. December retail sales registered the biggest monthly decline in 2022, finishing the fourth quarter flat.…
Financial News for the Week of January 13th, 2023
Financial News Highlights After fifteen rounds of votes, Kevin McCarthy was elected the new House Speaker. However, it didn’t come without making major concessions, setting the stage for more political…
Financial News for the Week of January 6th, 2023
Financial News Highlights The labor market cooled modestly in December, with 223k new jobs added and the unemployment rate ticking back down to 3.5%. The House of Representatives failed to elect a…
Financial News for the Week of December 16th, 2022
Financial News Highlights The FOMC downshifted its tightening race in December, raising the policy rate by 50-bps, bringing the operating band to 4.25%-4.5%. The FOMC’s Summary of Economic Projections showed a less optimistic…
Financial News for the Week of December 9th, 2022
Highlights Somewhat unexpectedly, the ISM services index accelerated in November, with the business activity sub-index expanding to a level last seen in 2021. The services sector continues to struggle with elevated…
Financial News for the Week of December 2nd, 2022
Financial News Highlights Employment rose by 0.2% month-on-month (m/m) for the fourth consecutive month in November, surpassing expectations for a moderate slowdown in job growth. Core PCE inflation for October eased slightly to 5%…
Financial News for the Week of November 25th, 2022
Financial News Highlights Minutes from the November FOMC meeting showed a sizeable majority of members were receptive to the idea of slowing the pace of rate hikes in the near-term. New home sales jumped 7.5% month-on-month (m/m), far outpacing…
Financial News for the Week of November 18th, 2022
Financial News Highlights Results from the midterm elections showed the Democrats maintained control of the Senate but lost their majority in the House of Representatives. U.S. housing data continue to slide in October, with housing…
Financial News for the Week of November 11th, 2022
Financial News Highlights Republicans look to have won control of the House in this week’s midterm elections. The Senate race remains too close to call. With Washington more divided, major spending and tax changes are less likely, while…
Financial News for the Week of November 4th, 2022
Financial News Highlights The Fed increased the monetary policy rate by 75 basis points to a range of 3.75-4%, opened the door to a slower pace of tightening, while also setting expectations for a higher terminal rate. The ISM…