Member Services Desk
Weekly Market Update
We are pleased to announce the launch of our Member Services Desk (MSD) Weekly Market Update. In response to member feedback and in an effort to provide our membership with valuable insight to help further your business goals, the MSD Weekly Market Update is designed to provide insight into current market trends and news and will be released every Friday.
If you would like to receive the MSD Weekly Market Update in .pdf format (includes FHLBNY rate charts) or to discuss this content further, please email the MSD Team.
Recent Weekly Market Updates
Having weathered the outcome of the latest FOMC meeting, market participants will contend with a crowded data calendar in the upcoming week. Both new and existing home sales likely retreated in May, while home-purchase prices ticked higher in April…
The June 18th Federal Open Market Committee (FOMC) meeting outcome will be the marquee event this coming week. The FOMC is universally expected to leave the federal funds rate target range unaltered at 4¼% to 4½%. The post-meeting communiqué likely will reiterate that while swings in net exports have impacted recent data, economic activity has continued to expand at a solid pace…
Market participants likely will face a quiet week, at least on the data front. With the May employment report in the rear-view mirror, the market’s focus will shift to reports on the inflation side of the Federal Reserve’s dual mandate. Hopes for positive developments on the international trade front, meanwhile, probably lifted the spirits of consumers and small businesses in upcoming reports…
The market’s focus will return to the labor side of the Federal Reserve’s dual mandate this upcoming week when the Bureau of Labor Statistics (BLS) releases its update on the employment situation for May. Canvasses from the Institute for Supply Management (ISM) probably will show that both the manufacturing and service-producing sectors both expanded for the first time in three months. Results in line with the above projections would undoubtedly push expectations of an impending rate cut further out into the future…
Market participants will face an extremely light economic release calendar leading into Memorial Day weekend. Contracts to purchase a newly constructed home and closings on existing dwellings both probably climbed higher in April. Leading indicators likely dipped for a fifth straight month. Yet, initial and continuing jobless claims remained near recent levels…
Market participants will confront a busy data calendar this week. While the focus will be on the inflation data, other reports will help provide direction for tracking estimates of Q2 real GDP growth. The median call stands at 1% annualized, after Q1’s .3% decline, with nowcasts from Fed District Banks centered at 2.3%…
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