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 March 25, 2022
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

U.S. Treasury bond yields rose substantially across the yield curve last week. Early in the week, Federal Reserve Chairman Powell indicated the Fed is open to increasing the federal-funds rate by 50 basis point increments and surpassing the estimated policy neutral rate set by the Fed, if necessary to tamp down inflation. After the perceived hawkish commentary by Chairman Powell, the money markets priced in roughly a 70% chance of a 50-basis point increase the federal-funds rate in the May meeting. This caused a sharp decrease in Treasury bond prices, pushing Treasury yields up. Notably, two-year and ten-year Treasury yields reached their highest levels since 2019, while the five- and thirty-year yield curve contracted near inversion. Broadly, Treasuries are on pace for the worst quarterly losses since 1973, according to Bloomberg. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Monday: February Preliminary Wholesale Inventories MoM (1.1%, 0.8%); Tuesday: March Conf. Board Consumer Confidence (107.0, 110.5); Wednesday: March 25 MBA Mortgage Applications (N/A, -8.1%), March ADP Employment Change (450k, 475k), 4Q Third GDP Annualized (7.0%, 77.0), 4Q Third Personal Consumption (3.1%, 3.1%), 4Q Third GDP Price Index (7.1%, 7.1%), 4Q Third Core PCE QoQ (5.0%, 5.0%); Thursday: February Personal Income (0.5%, 0.0%), February Personal Spending (0.5%, 2.1%), March 26 Initial Jobless Claims (200k, 187k), March 19 Continuing Claims (1350k, 1350k), March MNI Chicago PMI (57.0, 56.3); Friday: March Change in Nonfarm Payrolls (485k, 678k), March Change in Manufacturing Payrolls (485k, 678k), March Unemployment Rate (3.7%, 3.8%), March Final S&P Global US Manufacturing PMI (58.5, 58.5), March ISM Manufacturing (58.5, 58.6).
Posted on Monday, March 28, 2022 @ 8:21 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

The Buy And Hold Investment Strategy Is Not Dead
A Global Snapshot Of Government Bond Yields
US Stock Markets Ended March 18, 2022
US Economy and Credit Markets Ended March 18, 2022
How Bonds Have Fared Since 8/4/20
A Snapshot of Growth vs. Value Investing
US Stock Markets Ended March 11, 2022
US Economy and Credit Markets Ended March 11, 2022
Sector Performance Via Market Cap. (2020-2021 and YTD-3/9/22)
A Perspective On Crude Oil Prices
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.