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 July 30, 2021
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Treasury yields dropped slightly over the course of the week as the Federal Reserve met and kept the target range for the fed-funds rate between 0 and 0.25%. Investors expected the central bank to keep rates unchanged and asset purchases at $120 billion monthly. Fed officials said that they would continue to access in coming meetings whether the economy had progressed enough for tapering of future bond purchases. Fed Chairman Jerome Powell said that they still have not agreed on timing of raising interest rates but that it was still a ways off. He also said that the recent high inflation readings were tied to the sectors of the economy that reflect reopening and the price pressures do not appear to be spreading to other parts of the economy. Consumer confidence rose to a 16-month high, which is the highest since the beginning of the pandemic, beating analyst expectations. However, 2nd Quarter GDP was significantly lower than expectations, growing at a rate of 6.5% compared to an expert consensus rate of 8.4%. Initial Jobless claims fell to 400k, but still were slightly ahead of analyst expectations of 385k. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Monday: July Final Markit US Manufacturing PMI (63.1, 63.1), June Construction Spending MoM (0.4%, -0.3%), July ISM Manufacturing (60.8, 60.6); Tuesday: July Factory Orders (1.0%, 1.7%), June Final Durable Goods Orders (n/a, 0.8%); Wednesday: July 30 MBA Mortgage Applications (n/a, 5.7%), July ADP Employment Change (650k, 692k); Thursday: June Trade Balance (-$74.0b, -$71.2b), July 31 Initial Jobless Claims (380k, 400k); Friday: July Change in Nonfarm Payrolls (858k, 850k), July Unemployment Rate (5.7%, 5.9%).
Posted on Monday, August 2, 2021 @ 8:32 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
A Snapshot Of Equity Fund Flows
US Stock Markets Ended July 23, 2021
US Economy and Credit Markets Ended July 23, 2021
Every Year Looks Volatile Compared To 2017
Passive vs. Active Fund Flows
US Stock Markets Ended July 16, 2021
US Economy and Credit Markets Ended July 16, 2021
Top-Performing S&P 500 Index Subsectors Since 12/14/20
For Those Equity Investors Concerned About Valuation Levels
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.