Home   Logon   Portfolio Managers   Research and Commentary   About Us    Contact 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 5, 2021
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

U.S. Treasury bond yields increased across the yield curve last week, with larger gains at the long end of the curve. Last week the 10-year treasury bond yield hit its highest intraday level in a year as the bond selloff continued. In a speech on Thursday, Federal Reserve Chairman Jerome Powell largely stuck to the script and remained dovish on bond yields but mentioned bond yields have caught his eye. Treasury yields spiked in response to the Chairman's comments. Investors digested a batch of positive jobs data at the end of the week as the labor market continues to recover. Nonfarm payrolls increased 379,000 in February, which was 179,000 higher than the expectation. The large increase in nonfarm payrolls was due to a surge in the leisure and hospitality sector. Unemployment dropped to 6.2%, a 0.1% drop from January. Average hourly earnings rose 0.2% last month as well. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Monday: January Final Wholesale Inventories MoM (1.3%, 1.3%); Tuesday: February NFIB Small Business Optimism 96.8, 95.0); Wednesday: March 5 MBA Mortgage Applications (n/a, 0.5%), February CPI MoM (0.4%, 0.3%), February CPI YoY (1.7%, 1.4%), February Monthly Budget Statement (-$305.0b, -$162.8b); Thursday: March 6 Initial Jobless Claims (725k, 745k), February 27 Continuing Claims (4197k, 4295k); Friday: February PPI Final Demand MoM (0.4%, 1.3%), February Final Demand YoY (2.7%, 1.7%), March Preliminary University of Michigan Sentiment (78.0, 76.8)
Posted on Monday, March 8, 2021 @ 8:03 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

How U.S. Stocks Have Fared Over The Past 21 Years
How Bonds Have Fared Since 8/4/20
US Stock Markets Ended Feb. 26, 2021
US Economy and Credit Markets Ended Feb. 26, 2021
A Snapshot of Growth vs. Value Investing
A Global Snapshot Of Government Bond Yields
US Stock Markets Ended Feb. 19, 2021
US Economy and Credit Markets Ended Feb. 19, 2021
September 30, 1981
Sector Performance Via Market Capitalization
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.