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  US Economy and Credit Markets Week Ended April 13, 2012
Posted Under: Weekly Market Commentary
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Treasury yields were lower this week and the 10-year note dipped below two percent again in a flight to safety trade amid concern that the European sovereign debt crisis is getting worse and GDP growth in China was lower than expectations. Adding to the tension was a disappointing employment report from last Friday that showed non-farm payrolls increased 120,000 vs. expectations of 205,000. The unemployment rate declined to 8.2% against expectations of 8.3%. The producer price index was unchanged in March, vs. the estimate of 0.3% growth and is 2.8% higher year over year, below consensus estimates of 3.1%. The consumer price index increased 0.3% in March matching expectations and is 2.7% higher year over year also matching estimates. U of M Consumer Confidence was reported Friday at 75.7 vs. estimates of 76.2. Major economic reports (and related consensus forecasts) for next week include: Monday: April Empire Manufacturing (18.00), March Advance Retail Sales (0.3%, 0.6% excluding autos); Tuesday: March Housing Starts (705,000, 1.0% MoM), March Building Permits (710,000, - 0.7% MoM), March Industrial Production (0.3%), March Capacity Utilization (78.6%); Thursday: April Philadelphia Fed (12.0), March Existing Home Sales (4.62M, 0.6% MoM), March Leading Indicators (0.2%).
Posted on Monday, April 16, 2012 @ 8:17 AM • Post Link Share: 
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