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 Jan. 8, 2021
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

 
Longer-term Treasury yields began the year moving significantly higher last week, with the U.S. 10-year Treasury yield rising above 1% for the first time since March. Yields rose after Democrats won control of the Senate, winning both runoff elections in Georgia, as the market priced in more economic stimulus and higher inflation. The 10-year breakeven rate, which gauges the market's expectation of inflation, topped 2% for the first time since 2018 last week. The jobs report released on Friday showed the U.S. lost 140,000 jobs in December, which broke a streak of 7 months of job growth since the economy lost over 20 million jobs in April. Restaurants and bars bore the brunt of the decline, losing 372,000 jobs last month. The unemployment rate remained at 6.7%, which remains elevated from pre-pandemic levels but is still a significant recovery from the 14.8% unemployment rate in April. Meanwhile, manufacturing finished the year strongly with the ISM Manufacturing Index beating expectations and registering its highest level since 2018. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Wednesday: December CPI MoM (0.4%, 0.2%), January 8 MBA Mortgage Applications (N/A, 1.7%); Thursday: January 9 Initial Jobless Claims (785k, 787k); Friday: January Preliminary U. of Mich. Sentiment (80.0, 80.7), December Retail Sales Advance MoM (0.0%, -1.1%), December Industrial Production MoM (0.4%, 0.4%), December PPI Final Demand MoM (0.4%, 0.1%), January Empire Manufacturing (5.7, 4.9).
Posted on Monday, January 11, 2021 @ 8:35 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
A Snapshot Of How Stocks Have Performed So Far In This Millennium
The Only Constant Is Change
US Stock Markets Ended Dec. 31, 2020
US Economy and Credit Markets Ended Dec. 31, 2020
US Stock Markets Ended Dec. 24, 2020
US Economy and Credit Markets Ended Dec. 24, 2020
US Stock Markets Ended Dec. 18, 2020
US Economy and Credit Markets Ended Dec. 18, 2020
Commodity Prices Rising As The U.S. Dollar Falls
A 20-Year Snapshot Of Bond Yields
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 © 2022 All rights reserved.