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 Federal Open Market Committee (FOMC) meeting is the key event of the upcoming week. Policymakers are almost universally expected to leave the fed funds rate target range unaltered at 5¼% to 5½%. The post-meeting communiqué likely will reiterate that economic activity has continued to expand at a solid pace, job gains have remained strong, and the unemployment rate is low…
The Bureau of Economic Analysis’ (BEA) advance report on Q2 real GDP growth will undoubtedly be the marquee release of the upcoming week. Inflation-adjusted business activity is expected to have quickened to an above-trend 2% annualized pace during the spring quarter, but as is usually the case with the first look, the range of forecasts is wide…
Market participants will confront a crowded calendar of reports and Federal Reserve official appearances before the traditional FOMC blackout period begins next Saturday. Soundings on retail sales, housing starts, and industrial production will help freshen projections for Q2 real GDP growth. The consensus is currently…
Markets will confront a busy economic data calendar in the upcoming holiday-shortened week. The marquee report on the June employment situation probably will show that the pace of net hiring slowed marginally, while wage gains matched those posted in May. Purchasing manager canvasses likely will reveal that conditions in the manufacturing and service-producing segments of the economy were little changed from those witnessed in the prior month…
Market participants will contend with a crowded data calendar during the final week of June. Despite the number of upcoming reports, significant reassessments of Q2 activity and the monetary policy outlook likely will await the June employment situation report to be released on July 5th. A quartet of Fed officials, all current FOMC voters, will provide views on the economy and policy…
Having digested the changes in the so-called “dot plot” contained in the Federal Reserve’s Summary of Economic Projections, the market’s focus will return to gauging current-quarter growth prospects. The median economist projection calls for a return to above-trend real GDP growth near 2% annualized during Q2, but the range of forecasts is wide…
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