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 June 14, 2019
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

The Treasury rally slowed last week while consumer inflation expectations hit record lows. The Consumer Price Index excluding food and energy rose 2.0% in May over a year ago and 0.1% from the prior month, the Labor Department said Wednesday. Both readings came in slightly below expectations and bolstered bets that the Fed will cut interest rates this year, despite the yearly gain coming in at the Fed's 2% target. Additionally, a survey by the University of Michigan released on Friday said consumers expect an average long-term inflation rate of 2.2%, the lowest rate ever recorded by the survey. The release sent yields lower. Meanwhile, retail sales rose 0.5% in May over the prior month and were revised upward from a 0.2% decline in April to a 0.3% gain. The report, paired with stronger-than-expected industrial production, paused the recent rally in Treasurys and sent yields slightly higher. This week, the Federal Open Market Committee meets on Tuesday and Wednesday and is expected to hold rates steady. However, expectations that the Fed will cut rates this year rise significantly thereafter. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Monday: June Empire Manufacturing (10.5, 17.8); Tuesday: May Housing Starts (1,239k, 1,235k); Wednesday: June 19 FOMC Rate Decision – Upper Bound (2.50%, 2.50%), June 14 MBA Mortgage Applications (N/A, 26.8%); Thursday: June 15 Initial Jobless Claims (220k, 222k), May Leading Index (0.1%, 0.2%); Friday: June Preliminary Markit US Manufacturing PMI (50.5, 50.5), May Existing Home Sales (5.25m, 5.19m).
Posted on Monday, June 17, 2019 @ 8:11 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 Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email

Individual Investors Are Not Very Bullish On Stocks Now And That Isn’t Necessarily Bad
How Bonds Have Fared Since 10/9/07
US Stock Market Ended June 7, 2019
US Economy and Credit Markets Ended June 7, 2019
The Only Constant Is Change
Sector Performance Via Market Capitalization (Since Steel/Aluminum Tariffs Enacted)
Same Old Song and Dance
US Stock Markets Ended May 31, 2019
US Economy and Credit Markets Ended May 31, 2019
A Case For Investing In Two Basic Necessities
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 © 2023 All rights reserved.