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US Economy and Credit Markets Week Ended March 23, 2012 Posted Under: Weekly Market Commentary   After two weeks of declines, treasuries finished the week higher on four straight days of gains. Monday saw the week’s only rise in yields as investors sought riskier assets after positive commentary about the US economy from the Federal Reserve. Tuesday’s gains snapped a nine day losing streak on mixed housing data as building permits were better than expected, but housing starts fell short of expectations. Prices experienced their biggest gains on Wednesday after Fed Chairman Ben Bernanke discussed the risks that higher energy prices pose for the growing recovery. Existing home sales were also lower than projected. Changes were minimal Thursday as US employment numbers were slightly better than expected, but economic data from Europe and China offset any optimism. Yields were higher again on Friday as new home sales disappointed investors. Major economic reports (and related consensus forecasts) for next week include: Monday: February Pending Home Sales (+1.0%) and March Dallas Fed Manufacturing Activity (16.0); Tuesday: January S&P/Case-Shiller Composite-20 Home Price Index (-0.25%, -3.8% YoY), March Consumer Confidence (70.0) and March Richmond Fed Manufacturing Index (18); Wednesday: February Durable Goods Orders (+3.0%, +1.8% Ex Transportation); Thursday: 4th Quarter 2011 GDP (+3.0%), 4th Quarter 2011 Personal Consumption (+2.1%) and Initial Jobless Claims (350,000); Friday: February Personal Income (+0.4%), February Personal Spending (+0.6%) and March Chicago Purchasing Manager Index (63.0). Posted on Monday, March 26, 2012 @ 8:18 AM • Post Link Share:   Printer Friendly

These posts were prepared by First Trust Advisors L. P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.

 

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