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
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%…
Market focus will clearly be on Wednesday’s FOMC meeting decision, communique, and press conference. Fed-prognosticators universally predict no action on rates, as Fed members and Chair Powell himself have indicated the desire for a further “wait and see” period…
Markets will contend with a busy data calendar this week, including government statisticians’ first look at aggregate economic activity and labor market conditions in April…
Market participants will face a calendar of mixed economic releases this coming week. Both new and existing home sales are expected to have retreated from their reported February levels. Commercial aircraft bookings likely fueled the largest increase in durable goods bookings since last July. Weekly unemployment insurance figures probably remained solid…
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