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Bob Carey
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  US Economy and Credit Markets Week Ended Mar. 14, 2014
Posted Under: Weekly Market Commentary

Treasury prices soared over the course of the week on global risk aversion as equities tumbled. Treasury prices inched up slightly on Monday before gaining significantly on Tuesday despite disappointing demand for a 3-year auction. This was because investors sold off riskier equities on escalating concerns from the Crimean region. After climbing on a strong 10-year auction on Wednesday, Treasury prices rose considerably on Thursday on more geopolitical fears. The U.S. and other western nations warned Russia that an annexation of Crimea, which is what this weekend's referendum is being viewed as, would have international consequences. This sent the equity markets tumbling as investors seek safer Treasury assets. Also, there were more concerns about a slowdown in China's economic growth, which added to the risk-adverse trade. These concerns also caused gold to rise 3.3% and oil to fall 3.5%. The producer price index also had a slight rise when economics forecasted a slight drop. Major economic reports (and related consensus forecasts) for the upcoming week include: Monday: March Empire Manufacturing (6.75), February Industrial Production (0.2% MoM); Tuesday: February Consumer Price Index (0.1% MoM), February Housing Starts (913,000); Wednesday: March Fed QE3 Pace ($55B), March 19 FOMC Rate Decision (0.25%); Friday: March Initial Jobless Claims (325,000), February Existing Home Sales (0.0% MoM), February Leading Index (0.2%).
Posted on Monday, March 17, 2014 @ 8:31 AM • Post Link Share: 
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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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