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  US Economy and Credit Markets Week Ended April 25, 2014
Posted Under: Weekly Market Commentary

 
Treasuries ended the week on a four-day win streak due to escalating violence in Ukraine. Throughout the week, rising tensions in Ukraine caused uncertainty in equity markets with accusations of Russian violence in Kiev on Tuesday and calls for a military crackdown on activists that worried investors. New single-family homes sales data reported much worse than expected on Wednesday and Treasuries rallied. On Thursday, geopolitical fears continued as Russia said it would begin military drills along the Ukraine boarder. These fears worsened on Friday as a Ukrainian crackdown on pro-Russian separatists moved ahead with the blockade of the eastern city Slavyansk. Both sides accused each other of escalating force and bringing upon a war, which caused equity markets to tumble and Treasury prices to rise significantly on Friday. Yields on the 30-Year Treasury are now at their lowest level in 9 months. However, these events did not cause oil prices to rise over the week as the price per barrel of crude actually dropped 3.5%. Major economic reports (and related consensus forecasts) for the upcoming week include: Monday: March Pending Home Sales (0.8% MoM, -10.2% YoY); Tuesday: April Consumer Confidence (83.0); Wednesday: April ADP Employment Change (206,000), 1st Quarter Annualized GDP (1.2%), 1st Quarter Personal Consumption (1.2%), April Chicago Purchasing Manager (56.8), April Fed QE3 Pace ($45B), April 30 FOMC Rate Decision (0.25%); Thursday: April 26 Initial Jobless Claims (320,000); March Personal Income (0.4%), March Personal Spending (0.6%); April ISM Manufacturing (54.2), March Construction Spending (0.6%); Friday: April Change in Nonfarm Payrolls (210,000).
Posted on Monday, April 28, 2014 @ 8:20 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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