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 Stock Markets Ended Sept 24, 2021
Posted Under: Weekly Market Commentary

U.S. Treasury bond yields finished higher last week led by an increase in treasury yields on the long end of yield curve. Treasury yields started the week lower as the fallout in the Chinese real estate sector stoked a risk-off sentiment among investors. On Wednesday, Federal Reserve Chairman Jerome Powell addressed the media after the Federal Open Market Committee (FOMC) meeting. Though no current changes in monetary policy came out of the meeting, there were noticeable adjustments made to the Federal Reserve's outlook. Chairman Powell announced the Federal Reserve will very likely start tapering their quantitative easing program by November's meeting. Also, the Federal Reserve's view on interest rate hikes has substantially changed. The Federal Reserve's "dot plot" is now split on 2022 interest rate hikes, with half forecasting an increase while half do not. Initially on Wednesday, the yield curve flattened on the news as investors do not find rate hikes in 2022 likely. By the end of the of the week, the long end of the yield curve had substantially steepened as investors repositioned their assets. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Monday: August Preliminary Durable Goods Orders (0.7%, -0.1%); Tuesday: August Preliminary Wholesale Inventories (0.9%, 0.6%), July FHFA House Price Index MoM (1.5%, 1.6%), September Conference Board Consumer Confidence (115.0, 113.8); Wednesday: September 24 MBA Mortgage Applications (N/A, 4.9%), August Pending Home Sales MoM (1.1%, -1.8%); Thursday: September 25 Initial Jobless Claims (325K, 351K), September 18 Continuing Claims (2815K, 2845K), 2Q Third GDP Annualized QoQ (6.6%, 6.6%), 2Q Third GDP Price Index (6.1%, 6.1%), September MNI Chicago PMI (65.0, 66.8); Friday: August Personal Income (0.2%, 1.1%), August Personal Spending (0.6%, 0.3%), September Final Markit US Manufacturing PMI (60.5, 60.5), September Final University of Michigan Sentiment (71.0, 71.0), August Construction Spending MoM (0.3%, 0.3%), September ISM Manufacturing (59.5, 59.9).
Posted on Monday, September 27, 2021 @ 9:11 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
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email

US Economy and Credit Markets Ended Sept 24, 2021
Low U.S. Consumer Credit Default Rate A Nice Tailwind For Discretionary Stocks
A Snapshot Of Moving Averages
US Stock Markets Ended Sept 17, 2021
US Economy and Credit Markets Ended Sept 17, 2021
A Snapshot of Growth vs. Value Investing
A Snapshot Of Bond Valuations
US Stock Markets Ended Sept 10, 2021
US Economy and Credit Markets Ended Sept 10, 2021
Some Perspective On Corrections And Bear Markets
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 © 2021 All rights reserved.