| August 31, 2010 |
| A plethora of important U.S. economic data points were released over the last week, and held little in the way of positive news for investors ... Read More >> |
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| August 24, 2010 |
| World equity markets dropped last week as the expectations for growth in Europe and the U.S. continued to be trampled. Investors do not have confidence in the turnaround and the ramifications are being felt globally ... Read More >> |
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| August 17, 2010 |
| As U.S. economic data continues to demonstrate a floundering recovery, a seismic shift is taking place among investors in their expectations for the U.S. economy ... Read More >> |
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| August 10, 2010 |
| Disappointing U.S. economic data continued last week, with weak retail sales and sliding consumer confidence capped off by the release of the June FOMC meeting minutes ... Read More >> |
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| August 3, 2010 |
| While corporate earnings reports continue to impress, U.S. economic data provided less to cheer about, especially the news about down-trending GDP growth ... Read More >> |
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| July 27, 2010 |
| For the first time in several weeks, the spotlight was off U.S. economic data as the markets focused their attention on the results of European bank stress tests, as well as second quarter earnings releases, both of which lent a positive tone to investors hungry for any piece of good news ... Read More >> |
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| July 20, 2010 |
| Disappointing U.S. economic data continued last week, with weak retail sales and sliding consumer confidence capped off by the release of the June FOMC meeting minutes which showed ... Read More >> |
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| July 6, 2010 |
| U.S. economic data releases of the last week have confirmed the market''s worst fears about a deceleration in the pace of economic recovery, evidenced most notably by the disappointing June employment report released on Friday ... Read More >> |
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| June 29, 2010 |
| World leaders met in Toronto to discuss the global economy and the need for deficit reduction programs. However, they also acknowledged the need to tread carefully ... Read More >> |
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| June 22, 2010 |
| Global markets have been on edge for months now, amid fears the euro zone debt crisis and other imbalances would stymie the recovery ... Read More >> |
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| June 15, 2010 |
| Buoyed by strong export data from China, a much better-than-expected Japanese GDP report, news that U.S. financial regulatory reform is being watered down, and an exciting start to the World Cup soccer tournament, markets had a decidedly better tone last week ... Read More >> |
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| June 8, 2010 |
| After better-than-expected economic data and a sense of improvement in Europe pushed bond yields lower and stock prices higher at mid-week, opposite effects hit on Friday in the wake of the May employment report, sending bond yields back near their May lows and stocks to their lowest levels since February ... Read More >> |
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| June 1, 2010 |
| The focus on Europe continued last week, though there was a dramatic, albeit short, sentiment swing on Thursday that had stock markets everywhere soaring, only to be checked late Friday by the announcement of a cut in the credit rating of Spain ... Read More >> |
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| May 25, 2010 |
| ,De-risking, was the trade du jour over the last week as investors reacted to the passage of financial regulatory reform by the U.S. Senate ... Read More >> |
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| May 18, 2010 |
| By week''s end, the markets started to lose some of their enthusiasm for the recent EU rescue package, which in turn cast doubt on the U.S. economic recovery as investors grappled with the question of how troubles abroad will affect business here, and whether or not it creates the potential for a double-dip recession ... Read More >> |
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| May 11, 2010 |
| Last week''s market action was nothing short of ,shock and awe,, with Thursday''s trading irregularities only eclipsed by this weekend''s mega-bailout of the eurozone ... Read More >> |
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| May 4, 2010 |
| Last week''s momentary market angst over the continued meltdown of European sovereigns and news of a criminal probe into Goldman Sachs'' mortgage dealings gave way to euphoria on Monday as U.S. economic data proved remarkable and EU countries appear to have (finally) stepped up to the plate ... Read More >> |
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| April 27, 2010 |
| Offering up more shrugs than a temperamental teenager, the markets continued to shake off bad news in the last week, even as the Greek debt situation failed to improve, Goldman fraud allegations were dissected, and monetary policy tightening fears loomed larger in the wake of solid economic data and strong corporate earnings reports ... Read More >> |
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| April 20, 2010 |
| In yet another twist in the Washington and Wall Street drama, the SEC has charged Goldman Sachs with fraud, saying the firm intentionally misled investors ... Read More >> |
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| April 6, 2010 |
| Employment in the U.S. increased by +162,000 in March, the most in three years, after a revised -14,000 decrease in February that was smaller than initially estimated ... Read More >> |
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| March 30, 2010 |
| Markets were captivated last week by fallout from the passage of healthcare reform, as well as news of growing trade tensions with China. As such, the biggest news story of the week was a rise in interest rates ... Read More >> |
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| March 23, 2010 |
| The overwhelming news story of the week was the passage of the health care reform bill ... Read More >> |
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| March 16, 2010 |
| The star economic report of the week was the February retail sales report, which rose +0.3% overall, but a stellar +0.8% excluding automobile sales ... Read More >> |
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| March 9, 2010 |
| Despite dire warnings about the impact of weather on February economic statistics from officials as high-ranking as White House Economic Director Larry Summers, reports on employment and economic activity were solid ... Read More >> |
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| March 2, 2010 |
| Economic data last week was not especially encouraging, and added to already high investor anxiety about the future ... Read More >> |
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| February 23, 2010 |
| In a surprise move timing-wise, Federal Reserve policymakers followed up a rather hawkish set of FOMC minutes by raising the discount rate at which banks can borrow directly from the Fed by 25 basis points to 0.75% ... Read More >> |
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| February 16, 2010 |
| Economic data releases continued to deliver mixed messages last week, though market participants were too preoccupied with evolving sovereign debt concerns and massive snowstorms to care ... Read More >> |
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| February 9, 2010 |
| After a surging Institute of Supply Management (ISM) manufacturing report and a blistering Q4 GDP growth rate of +5.7%, January''s employment report failed to live up to expectations, with non-farm payrolls declining by some -20,000 jobs in the month of January, while December''s originally reported loss of -85,000 was revised higher to -150,000 ... Read More >> |
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| February 2, 2010 |
| The U.S. economy expanded +5.7% in the fourth quarter, its fastest pace in six years, as factories cranked up assembly lines to prevent inventories from plunging ... Read More >> |
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| January 26, 2010 |
| Economic data releases had little to do with the chaos that permeated the markets this past week, though they continue to deliver mixed results ... Read More >> |
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| January 19, 2010 |
| U.S. economic data has taken a decided turn for the worse since the first of the year, with weak reports on the employment and consumer situation stirring concerns about the sustainability of this economic recovery ... Read More >> |
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| January 5, 2010 |
| Developments at the close of 2009 have continued to support the case for moderate economic recovery. For example, personal spending was reported with a reasonable month-over-month gain of +0.5%, while personal income improved with a +0.4% increase ... Read More >> |
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| December 22, 2009 |
| Last week, as expected, the FOMC left its zero interest rate policy unchanged but made a number of changes in the tone of their statement, mainly to acknowledge signs of improvement in the labor market, financial conditions, and increased household spending. ... Read More >> |
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| December 15, 2009 |
| In the wake of a much-improved employment report that showed the economy lost only -11,000 jobs in the month of November, the pressure was on for last week''s economic data to serve up continued good news ... Read More >> |
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| December 8, 2009 |
| In a happy coincidence or sinister conspiracy (depending on your point of view), an astonishingly positive non-farm payrolls report was released on Friday, less than twenty-four hours after President Obama hosted a ,Jobs Summit, for business leaders, labor bosses, academics, and politicians at the White House ... Read More >> |
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| December 1, 2009 |
| The Thanksgiving holiday week was marked by the release of a plethora of economic data, as well as the surprising announcement that the government of Dubai is asking creditors for a delay and ultimate restructuring in the repayment of debts owed by its investment vehicle, Dubai World, until May 2010. ... Read More >> |
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| November 24, 2009 |
| Another week of mixed readings on the state of the economy did little to resolve the debate about a recovery. For example, October housing starts dropped by -10.6% to a seven-month low of 529,000 annualized ... Read More >> |
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| November 17, 2009 |
| Last week''s economic data was largely disappointing, though one would hardly know it given the continued positive price performance coming out of both the equity and fixed income markets ... Read More >> |
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| November 10, 2009 |
| Economic data releases continue to provide a very mixed picture of the recovery, which set the stage for last week''s continued policy stimulus, which in turn had equity markets surging to new cycle highs ... Read More >> |
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| November 3, 2009 |
| Despite strong earnings reports, GDP growth, housing stabilization, and other green shoots, investors were haunted this past Halloween holiday week by concerns about the long-term viability of economic growth, valuations, and the prospect of life without the support of stimulus ... Read More >> |
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| October 13, 2009 |
| With the markets focused on the spiraling dollar and the surging prices of hard assets, last week''s economic data delivered little news of import for investors. Weekly initial jobless claims fell to 521,000, their lowest level in nine months, and continuing claims dipped a touch to 6.04 million. ... Read More >> |
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| October 6, 2009 |
| While evidence of renewed economic growth has been piling up over the last several months, there is no indication yet that the upturn will be a powerful one, a sentiment confirmed last week with a string of disappointing economic data releases. Friday''s employment report was perhaps the most concerning ... Read More >> |
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| September 29, 2009 |
| As expected, the FOMC elected to maintain their target for the Fed funds rate at a range of 0%-0.25% for the seventh consecutive meeting and reiterated their commitment to leave that rate ,at exceptionally low levels for an extended period., While the Fed upgraded its assessment of the economy, the upgrade was very slight ... Read More >> |
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| September 22, 2009 |
| The economic calendar last week featured several important releases that almost universally supported the argument for an improving economy. First, retail sales for August increased by +2.7% overall, by +1.1% excluding automobiles, and by +0.6% without autos and gasoline, all more than +0.5% greater than expectations ... Read More >> |
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| September 15, 2009 |
| Economic data releases were few and generally insignificant last week, except for the University of Michigan consumer confidence index, which posted an unexpectedly strong rise in September to 70.2, nearing its highest level since 2007. The U.S. trade deficit widened sharply in July to $32 billion ... Read More >> |
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| September 8, 2009 |
| Markets were volatile despite fairly robust economic data, perhaps as investors recall the upcoming anniversaries of the demise of Lehman Brothers, the conservatorship of Fannie Mae and Freddie Mac, and the bailout of AIG. With the Labor Day holiday weekend behind us and summer now officially over, investors have economic data even more in focus ... Read More >> |
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| September 1, 2009 |
| Economic data releases and Federal Reserve board member chatter continue to demonstrate the healing that has taken place within our economy, though the ultimate path of our recovery (once the boost from the inventory cycle and fiscal stimulus fade) is anything but clear. Nevertheless, last week Richmond Fed President Jeffrey Lacker spoke optimistically ... Read More >> |
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| August 25, 2009 |
| The battle between bulls and bears continued last week with both sides having plenty of data to support their cases. On the bull side of the equation was a +0.6% increase (the fourth month in a row!) in the so-called Leading Economic Indicators Index, which is designed to predict the future direction of the U.S. economy ... Read More >> |
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| August 18, 2009 |
| As was widely expected, the Federal Reserve Open Market Committee elected to maintain their target for the Fed funds rate at a range of 0.00%-0.25% for the sixth consecutive meeting and reiterated their commitment to leave that rate ,at exceptionally low levels...for an extended period., ... Read More >> |
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| August 11, 2009 |
| Friday''s employment data provided quite the surprise for the markets, as the economy lost a mere -247,000 jobs in July, marking the slowest pace of job declines since August of 2008. In addition, prior job loss reports were revised upward by +43,000 jobs ... Read More >> |
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| August 4, 2009 |
| Markets remain euphoric, with the S&P 500 finishing above the 1,000 mark for the first time since November of last year. So-called ,strong, corporate earnings reports are the justification for this surge in investor optimism, as economic data releases continue to paint a very mixed picture of the economy ... Read More >> |
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| July 28, 2009 |
| While equity market price action clearly took center stage last week, Fed Chairman Ben Bernanke''s testimony before Congress was a performance also worth noting. Despite an upgraded view of the economy supported in recent days by soaring equity markets, Bernanke continued to express confidence that inflation will remain low over the next two years. ... Read More >> |
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| July 21, 2009 |
| Doubts about the economic recovery story generated by mixed data releases were squashed by strong earnings reports from the major Wall Street financial firms, leading to a surge in equity prices and bond yields last week. Apparently, less bad news is good news, or at least investors are focusing on only the positive for now ... Read More >> |
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| July 14, 2009 |
| A lull in economic data left markets somewhat directionless last week, until Monday when prominent financial analyst Meredith Whitney finally issued a ,buy, rating on a bank stock (Goldman Sachs) after years of negative views on the sector. Ms. Whitney made a name for herself while at Oppenheimer by correctly calling the implosion within the banking sector ... Read More >> |
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| July 7, 2009 |
| A sobering set of labor market figures dampened the holiday spirit last week, as it was reported that the economy shed -467,000 jobs in June and average hours worked fell to 33, their lowest level on record ... Read More >> |
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| June 30, 2009 |
| While the demise of pop culture icons and Bernard Madoff''s 150-year maximum jail term grabbed most of the headlines over the past week, there were a number of significant economic data releases and developments worth noting. First, as expected, the Federal Reserve Open Market Committee (FOMC) left their target for interest rates flat at a range of 0%-0.25% ... Read More >> |
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| June 23, 2009 |
| Headlines over the last week continue to throw dirt over the green shoots that were beginning to emerge in the economy, creating volatility in the markets and uncertainty among investors. For example, the World Bank was on the tape yesterday with a warning about the depth of the global recession ... Read More >> |
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| June 16, 2009 |
| Economic data over the course of the last week proved less optimistic than expected, perhaps suggesting the ,green shoots, sprouting within the economy are getting snowed over. For example, while May''s retail sales appeared strong on the surface with an increase of +0.5%, most of that improvement was due to rising gasoline prices ... Read More >> |
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| June 9, 2009 |
| Modest improvement in economic data continues drive the surge in optimism about the economy, lifting stocks to gains for the year, and sending Treasury bonds reeling. On Friday, the employment report—one of the most oppressive statistics of economic growth to date—showed a green shoot.Non-farm payrolls fell by an eight-month low of -345,000 in May ... Read More >> |
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| June 2, 2009 |
| In what was almost universally described as the end of an era in American history and business, 100-year old automaker General Motors filed for bankruptcy protection on Monday, June 1, marking the fourth largest bankruptcy in history, behind Lehman Brothers, Washington Mutual, and Worldcom ... Read More >> |
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| May 26, 2009 |
| While there are continuing indications that capital markets are gradually normalizing, economic data remains confounding, leaving policymakers and economists rallying around a consensus that while the recession may end this year, the recovery will be subdued and prolonged ... Read More >> |
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| May 19, 2009 |
| Economic data released over the past week continued the recent trend of mixing in slightly hopeful news with otherwise disappointing developments as investors struggle to determine if the economy''s downdraft has truly been arrested and if a recovery is in the immediate future ... Read More >> |
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| May 12, 2009 |
| The long-awaited and even longer-speculated upon results of the Federal Reserve''s bank stress tests (also known as SCAP, supervisory capital assessment program) were finally revealed late last week to a notable lack of fanfare. The results indicated that 10 of the 19 largest domestic financial institutions will in fact need to raise additional capital ... Read More >> |
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| May 5, 2009 |
| Last week''s economic data releases confirmed some ,green shoots, of growth in the economy that indicate stabilization, albeit at a low level, are at hand. While gross domestic product (GDP) shrunk at a terrible -6.1% pace during the first quarter, the first time since 1975 that GDP has fallen for three consecutive quarters ... Read More >> |
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| April 28, 2009 |
| Last week''s market activity was driven by news out of Washington. Investors grappled with disclosures regarding the nature of the bank stress tests, learned of the backroom pressure on Bank of America to buy Merrill, and tried to synthesize how cram-down legislation and potential new regulations on credit card issuers would help the economy ... Read More >> |
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| April 21, 2009 |
| While the economic data released over the past week showed signs of improvement in some areas, it did not point to a quick end to this cycle, a sentiment echoed in the public statements of several prominent Federal Reserve officials over the last week ... Read More >> |
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| April 14, 2009 |
| The clouds of uncertainty hanging over the markets are starting to part as monetary and fiscal stimulus measures gain traction and some indicators confirm that the pace of deterioration in the economy has finally begun to slow ... Read More >> |
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| April 7, 2009 |
| Markets showed their ability to be forward-looking last week, as weak economic data was shrugged off and investors instead cheered comments out of the G-20 summit as well as news of changes to current accounting practices ... Read More >> |
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| March 31, 2009 |
| Despite recent rumors that the Obama administration''s auto task force would recommend additional loans without severe conditions, the President took a hard line in furthering a bailout of the auto industry on Monday ... Read More >> |
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| March 24, 2009 |
| As expected last week, the FOMC left its Fed Funds target rate unchanged at 0% to 0.25% and maintained their commitment to leave this rate at exceptionally low levels...for an extended period ... Read More >> |
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| March 17, 2009 |
| The relentless slide in the prices of risk assets finally halted last week, as retail sales numbers surprised on the upside and management from banks including Citigroup, Bank of America, J.P. Morgan and Barclays reported a profitable start to 2009 ... Read More >> |
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| March 10, 2009 |
| The uncertainty which has dogged the markets and the financial system for months continued unabated last week, as neither Congress nor the administration seems able to offer a visible way out of the wilderness ... Read More >> |
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| March 3, 2009 |
| Another week of new data and policy pronouncements has failed to arrest the weakening in confidence among investors and the general public. 4Q08 GDP was revised to a bigger-than-expected decline of -6.2% from the initially reported -3.8% ... Read More >> |
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| February 24, 2009 |
| The combination of uncertainty and growing discord is once again pushing investors into a flight-to-quality mode, despite Washington''s best efforts and rhetoric of change ... Read More >> |
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| February 17 2009 |
| It''s not often that a $2 trillion program is met with disappointment and skepticism, but last Tuesday''s announcement of the so-called Financial Stability Plan by Treasury Secretary Timothy Geithner went over like a lead balloon ... Read More >> |
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