US Economy and Credit Markets Week Ended January 30, 2015
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Treasury yields fell to all-time lows last week due to continuing concerns over global growth and the Federal Reserve's decision not to raise rates. On Tuesday, the December orders for durable goods fell unexpectedly. New home sales reached the highest level in over six years, due to an improving labor market and lower mortgage rates. On Wednesday, the 30-year bond closed at a record low as the Federal Reserve continued to show patience in raising borrowing cost, keeping rates near zero until at least midyear. On Thursday, the January 24th Initial Jobless Claims report declined to the lowest level since April 2000. Treasury prices climbed on Friday after a report showed a larger than expected slowdown in the U.S economy last quarter. Major economic reports (and related consensus forecasts) for the upcoming week include: Monday: December Personal Income (0.2%), December Personal Spending (-0.2%), January Markit US Manufacturing PMI (53.8), January ISM Manufacturing (54.5); Tuesday: December Factory Orders (-2.2%); Wednesday: January 30 MBA Mortgage Applications, January ADP Employment Change (220k); Thursday: January 31 Initial Jobless Claims, December Trade Balance (-37.9B); Friday: January Change in Nonfarm Payrolls (235k), January Unemployment Rate.
Posted on Monday, February 2, 2015 @ 8:32 AM

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.