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 Jan. 24, 2020
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Treasury prices rose significantly over the course of the week on a continuing outbreak of the coronaviras and Eurozone economic news. On Tuesday, the first case of the coronavirus was diagnosed in the U.S. after it broke out in China earlier in the month, with at least 80 deaths attributable to the health issue. On Wednesday and Thursday, China had a strong response to the outbreak, shutting down some public transportation and later locking down the city of origin and two neighboring cities. On Friday, several more cases were reported in the U.S., along with other countries in Europe and Asia, leaving people to worry about a SARS-like outbreak that killed more than 800 people in Asia in 2003. This led investors to seek the perceived safety of Treasuries. The European Central Bank announced on Thursday that the benchmark deposit rate would remain at negative 0.5% and on Friday Manufacturing PMI beat expectations, leaving investors less concerned about the Eurozone. Major economic reports (related consensus forecasts, prior data) for the upcoming week include: Monday: December New Home Sales (730k, 719k); Tuesday: December Prelim. Durable Goods Orders (0.5%, -2.1%), January Conf. Board Consumer Confidence (128.0, 126.5); Wednesday: January 24 MBA Mortgage Applications, December Prelim. Wholesale Inventories MoM (-0.2%, 0.1%), January 25 FOMC Rate Decision Upper Bound (1.75%, 1.75%); Thursday: 4Q GDP Annualized QoQ (2.1%, 2.1%), January 25 Initial Jobless Claims (215k, 211k); Friday: December Personal Income (0.3%, 0.5%), December Personal Spending (0.3%, 0.4%), January MNI Chicago PMI (48.9, 48.9), January Final U. of Michigan Sentiment (99.1, 99.1).
Posted on Monday, January 27, 2020 @ 9:40 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

Every Year Looks Volatile Compared To 2017
Going with the Flow. Does it Make Sense?
Passive vs. Active Fund Flows
US Stock Markets Ended Jan. 17, 2020
US Economy and Credit Markets Ended Jan. 17, 2020
The Only Constant Is Change
Trump Rally (11/8/16-1/10/20) vs. Trump Tariffs (3/8/18-1/10/20)
US Stock Markets Ended Jan. 10, 2020
US Economy and Credit Markets Ended Jan. 10, 2020
When Less Can Potentially Bring More
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.