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 Dec. 31, 2021
Posted Under: Weekly Market Commentary

 
Bond yields edged higher while the curve slightly flattened during the final trading week of the year. Muted COVID-19 deaths and less restrictive CDC guidelines following the record-setting omicron variant outbreak de-risked potential virus-related economic disruptions and helped yields rise. As of December 31st, the 7-day moving average of COVID-19 deaths stood at 1,276 which is less than half of the all-time high witnessed in January 2021. Initial jobless claims for the week ended December 25th declined to 198,000 compared to an estimated 206,000. Continuing claims also surprised by falling to 1.72 million which is the lowest total since March 2020. Chicago PMI rose more than forecasted to 63.1 in December. The average Chicago PMI for 2021 of 66.8 is the second highest for a calendar year since the survey began in 1967. Oil rose $1.42 to $75.21 per barrel. Bond yields ended the year significantly higher relative to 2020 year-end while the curve flattened as U.S. economic activity continued its recovery from the pandemic and inflation proved stickier than expected entering the year. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Monday: December Final Markit US Manufacturing PMI (57.8, unch.), November Construction Spending MoM (0.7%, 0.2%); Tuesday: ISM Manufacturing (60.2 61.1); Wednesday: December MBA Mortgage Applications (N/A, -0.6%), December ADP Employment Change (360k, 534k); Thursday: November Trade Balance (-$74.1b, -$67.1b), January 1 Initial Jobless Claims (200k, 198k), November Final Durable Goods Orders (N/A, 2.5%); Friday: December Change in Nonfarm Payrolls (400k, 210k), December Unemployment Rate (4.1%, 4.2%).
Posted on Monday, January 3, 2022 @ 8:14 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 ANALYSIS


 PREVIOUS POSTS
US Stock Markets Ended Dec. 23, 2021
US Economy and Credit Markets Ended Dec. 23, 2021
US Stock Markets Ended Dec. 17, 2021
US Economy and Credit Markets Ended Dec. 17, 2021
A Snapshot Of Bond Valuations
The S&P 500 Index Is On Pace To Post Its Third Consecutive Double-Digit Gain
US Stock Markets Ended Dec. 10, 2021
US Economy and Credit Markets Ended Dec. 10, 2021
A Snapshot Of Gold, Silver And The Miners
A Look Back At The Top-Performing S&P 500 Index Subsectors In 2013
Archive
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.