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Bob Carey
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  US Economy and Credit Markets Ended April 12, 2019
Posted Under: Weekly Market Commentary

Yields were up last week on signs of continued growth in the U.S. economy. Initial jobless claims beat expectations after falling by 8,000 over the prior week to 196,000 for the week ended April 6, the lowest level since 1969. Meanwhile, the Producer Price Index rose 0.6% in March, coming in well above expectations. Prior to the data releases, minutes of the Fed's March meeting released on Wednesday showed most Fed officials expected to leave interest rates unchanged for the remainder of the year. However, some Fed officials noted that their interest rate views could go either way based on incoming data and new developments. In Europe, ECB President Mario Draghi said Europe's economic slowdown would continue this year but said the bank could step in to boost the economy with monetary easing if needed. His comments came after the IMF cut its economic growth forecasts for the eurozone on Tuesday for both 2019 and 2020. Major economic reports (related consensus forecasts, prior data) for the upcoming week include: Monday: April Empire Manufacturing (8.0, 3.7); Tuesday: March Industrial Production MoM (0.2%, 0.1%); Wednesday: April 12 MBA Mortgage Applications (N/A, -5.6%), February Trade Balance (-$53.5b, $-51.1b), February Wholesale Inventories MoM (0.5%, 1.2%); Thursday: April 13 Initial Jobless Claims (206k, 196k), March Retail Sales Advance MoM (1.0%, -0.2%), April Preliminary Markit US Manufacturing PMI (52.7, 52.4), March Leading Index (0.4%, 0.2%); Friday: March Housing Starts (1,230k, 1,162k).
Posted on Monday, April 15, 2019 @ 8:07 AM • Post Link Share: 
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