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  US Economy and Credit Markets Ended April 9, 2021
Posted Under: Weekly Market Commentary

 
Treasury yields mostly fell last week across the yield curve, reversing a recent surge. The trade deficit widened to a record $71.1 billion in February, as supply chain disruptions and a widespread blackout in Texas led to a decline in exports. Continued claims, or the number of people receiving unemployment benefits, continued to slowly improve, falling to a one-year low of 3.73 million in the week ending on March 27. That represents a significant improvement from the high of over 23 million reached in May 2020. Producer prices increased well ahead of expectations in March, rising 1% over the prior month. Year over year, producer prices increased 4.2%, which was the largest yearly increase since 2011. However, producer prices fell around the start of the pandemic and the lower base contributed to the large year-over-year increase. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Tuesday: March CPI MoM (0.5%, 0.4%); Wednesday: April 9 MBA Mortgage Applications (N/A, -5.1%); Thursday: April 10 Initial Jobless Claims (700k, 744k), March Retail Sales Advance MoM (5.2%, -3.0%), March Industrial Production MoM (2.8%, -2.2%), April Empire Manufacturing (18.5, 17.4); Friday: April Preliminary U. of Mich. Sentiment (89.0, 84.9), March Housing Starts (1602k, 1421k).
Posted on Monday, April 12, 2021 @ 8:28 AM • Post Link Share: 
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