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 June 18, 2021
Posted Under: Weekly Market Commentary

The Federal Reserve was once again in focus last week and they held rates at 0%, as expected. Interestingly, the "dot plots" showed officials expected two rate increases by the end of 2023. The Fed increased its expectations for inflation, and 13 of 18 officials favored at least one rate increase by the end of 2023, and 11 of 18 forecasted 2 hikes. However, regarding asset purchases, the Fed noted that they continue to expect asset purchases to be held at a $120 billion monthly rate until "substantial further progress" had been achieved with regard to inflation and employment. General expectations by the market are that tapering occurs in advance of rate increases, but the Chairman, Mr. Powell, noted that no indications of when to expect tapering were to be provided currently. Last Tuesday was a firecracker of economic data as Industrial Production was seen increasing 0.8% in May, The Producer Price Index increased 0.8% in May, but Retail Sales were found declining 1.3% for the prior month. Last Wednesday's housing starts underwhelmed relative to consensus but showed an increase of 3.6% in May. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Tuesday: May Existing Home Sales (5.71M, 5.85M); Wednesday: June 18 MBA Mortgage Applications (N/A, 4.2%), June preliminary Market US Manufacturing PMI (61.5, 62.1), May New Home Sales (870K, 863K); Thursday: June 19 Initial Jobless Claims (380K, 412K), May preliminary Wholesale Inventories (0.8%, unch.) May preliminary Durable Goods Orders (3.0%, -1.3%), GDP Annualized QoQ 1Q (6.4%, unch.), May Personal Income (-2.6%, -13.1%) and Personal Spending (0.4%, 0.5%).
Posted on Monday, June 21, 2021 @ 8:11 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

How Internet Stocks Have Fared Since The End Of 2002
How Bonds Have Fared Since 8/4/20
US Stock Markets Ended June 11, 2021
US Economy and Credit Markets Ended June 11, 2021
A Snapshot Of The Growth In ETF/ETP Assets
A Snapshot of Growth vs. Value Investing
US Stock Markets Ended June 4, 2021
US Economy and Credit Markets Ended June 4, 2021
The Buy And Hold Investment Strategy Is Not Dead!
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.