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 latest FOMC and digested its updated interest rate projections, the market will likely next focus on scheduled public appearances by Fed officials for additional color on their current thinking. On the data calendar…
The FOMC meeting will be the marquee event this coming week. Policymakers are expected to leave the target range for the federal funds rate unaltered at 5¼% to 5½%. Given the continuing string of positive data surprises, the post-meeting communiqué likely will reiterate that the economy is expanding at a moderate pace. The statement probably…
With Federal Reserve officials observing the traditional blackout period ahead of the September 19-20 FOMC meeting, market focus will be on the data calendar this week. August updates on consumer prices likely will be mixed. A nearly 12% pop in seasonally adjusted gas prices likely fueled the largest increase in the Consumer Price Index (CPI) since January, yet ongoing declines in…
A crowded release calendar upcoming, the marquee report will undoubtedly be the Bureau of Labor Statistics update on the employment situation in August. Payroll employment growth probably quickened last month, while the jobless rate clocked in near a half-century low. An early canvassing period may result in a smaller-than-expected rise in average hourly earnings, adding to hopes that wage inflation is moderating…
The economic data flow will slow to a trickle this coming week. Readings on existing and new home purchases in July are expected to be mixed. Soundings on both initial and continuing jobless claims probably will remain in recent ranges. Reflecting developments in the aeronautic industry, durable goods orders likely headed lower last month. With last week’s slate of key indicators eclipsing Street expectations by a wide margin, economists’ projections for real GDP growth during the summer quarter are poised for sizable markups…
Market participants will contend with a crowded calendar of data this upcoming week, many of which could influence economists’ forecasts for current quarter real GDP growth. The current median projection calls for an annualized gain of .7%, ending the string of above-trend gains witnessed since last summer. With little input data available, however, the range of estimates is wide…
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