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 August 14, 2020
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Treasury yields rose across the yield curve last week, with longer-term yields rising more than shorter-term yields, as new supply and a continued rebound in consumer spending led to selling in the Treasury market throughout the week. In the corporate market, aluminum-can maker Ball Corp. issued $1.3 billion of 10-year debt at a record-low yield of 2.875% for a junk bond with a maturity of five years or longer. The deal highlights a rally in credit markets that has pushed corporate borrowing costs for both investment-grade and junk-rated firms near record lows. Jobs data showed initial jobless claims in the week ended August 8 fell below one million for the first time since March, an encouraging sign that the labor market continues to recover. Continued claims, or the number of people receiving unemployment benefits, fell to about 15.5 million in the week ending August 1, which is still staggeringly high but marks another step forward in the recovery from May's peak of almost 25 million. Meanwhile, retail sales rose 1.2% in July over the prior month, exceeding pre-pandemic levels to set a new all-time high. It was the third consecutive month of retail sales growth. Compared to July 2019, retail sales were up 2.7% last month, which was the second consecutive month that retail sales were higher than last year. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Monday: August Empire Manufacturing (15.0, 17.2); Tuesday: July Housing Starts (1,240k, 1,186k); Wednesday: August 14 MBA Mortgage Applications (N/A, 6.8%); Thursday: August 15 Initial Jobless Claims (925k, 963k); July Leading Index (1.0%, 2.0%); Friday: August Preliminary Markit US Manufacturing PMI (52.0, 50.9), July Existing Home Sales (5.40m, 4.72m).
Posted on Monday, August 17, 2020 @ 8:18 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 Bond Valuations
Internet Advertising Revenue Still Growing At A Double-Digit Clip
US Stock Markets Ended August 7, 2020
US Economy and Credit Markets Ended August 7, 2020
The Action In The Stock Market Has Been Fast And Furious
A Snapshot Of Sector Investing
US Stock Markets Ended July 31, 2020
US Economy and Credit Markets Ended July 31, 2020
Every Year Looks Volatile Compared To 2017
A Snapshot Of The U.S. Dollar
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 © 2022 All rights reserved.