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 March 6, 2020
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Treasury yields plunged to record lows last week as the coronavirus continued to roil financial markets. The yield on the U.S. 10-year Treasury note fell below 0.7% for the first time last week and has been cut in half in just two weeks as demand for haven assets remained strong. The economic risks posed by the coronavirus prompted the Fed to cut rates on Tuesday, ahead of its next scheduled two-day meeting on March 17 and 18. The half-percentage-point cut was the Fed's first emergency rate cut since the 2008 financial crisis. Even with the move, the Fed is still widely expected to cut rates by another 50 basis points at its March meeting. Economic data released on Friday showed the U.S. economy added 273,000 jobs in February over the prior month, which easily exceeded expectations, and the unemployment rate fell from 3.6% to 3.5%. The strong jobs report had little effect on financial markets, however, as the economic impact of the coronavirus will need to be assessed in the coming months. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Wednesday: February CPI MoM (0.0%, 0.1%), March 6 MBA Mortgage Applications (N/A, 15.1%); Thursday: March 7 Initial Jobless Claims (217k, 216k), February PPI Final Demand MoM (-0.1%, 0.5%); Friday: March Preliminary U. of Mich. Sentiment (95.0, 101.0).
Posted on Monday, March 9, 2020 @ 8:14 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

A Snapshot Of The U.S. Dollar
A Global Snapshot Of Government Bond Yields
US Stock Markets Ended Feb. 28, 2020
US Economy and Credit Markets Ended Feb. 28, 2020
The Climate For U.S. Crude Oil
The Yield On The 10-year Treasury Note Just Revisited Its All-Time Low
US Stock Markets Ended Feb. 21, 2020
US Economy and Credit Markets Ended Feb. 21, 2020
Keep An Eye On Gold, Silver And The Miners
S&P 500 Index Earnings & Revenue Growth Rate Projections View
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.