Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube
 

  US Economy and Credit Markets Ended Feb. 2, 2018
Posted Under: Weekly Market Commentary

 
The yield on the benchmark U.S. 10-year Treasury note topped 2.8% last week, a four-year high, after the jobs report was released on Friday, ending a week that saw a selloff in the bond market. The report showed average hourly earnings for private-sector workers rose 2.9% in January over a year earlier while the unemployment rate held at 4.1%. The growth in wages, which was the strongest year-over-year gain since 2009, stoked higher expectations for inflation and prompted the selloff in U.S. government bonds on Friday. The Federal Open Market Committee announced after its meeting on Tuesday and Wednesday that it still expects to raise interest rates three times in 2018, but higher inflation could prompt the FOMC to raise rates four times this year. According to CME Group, the probability of at least four rate increases in 2018 jumped from 25% to 30% after the jobs report was announced. The FOMC meeting marked the last for Fed Chairwoman Janet Yellen. Her successor, Fed governor Jerome Powell, is scheduled to be sworn in as chairman of the Fed board of governors this week. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Tuesday: December Trade Balance (-$52.0b, -$50.5b); Wednesday: February 2 MBA Mortgage Applications (N/A, -2.6%); Thursday: February 3 Initial Jobless Claims (233k, 230k); Friday: December Final Wholesale Inventories MoM (0.2%, 0.2%).
Posted on Monday, February 5, 2018 @ 8:32 AM • Post Link Share: 
Print this post 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.
Search Posts
MARKET ANALYSIS
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email
 


 PREVIOUS POSTS
S&P 500 Index Top-Line Growth Estimates
A Snapshot Of How Stocks Have Performed So Far In This Millennium
Stellar Earnings
US Stocks Ended Jan. 26, 2018
US Economy and Credit Markets Ended Jan. 26, 2018
2017 Was Another Banner Year For Passive Fund Flows
The Passage Of Tax Reform Could Provide A Boost To Industrials
US Stocks Ended Jan. 19, 2018
US Economy and Credit Markets Ended Jan. 19, 2018
The Bull Market & Trump Rally
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2020 All rights reserved.