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 Federal Open Market Committee (FOMC) meeting and digested an updated set of policymakers’ projections, the attentions of market participants will return to the economic release calendar. This week’s soundings likely will be mixed with new home sales, durable goods orders, pending home sales and consumer spending in February all expected to improve, while consumer confidence and personal income…
The Federal Open Market Committee (FOMC) meeting will be the marquee event of the upcoming week. Policymakers are almost universally expected to leave the federal funds rate target range unaltered at 5¼% to 5½%. The post-meeting communiqué likely will reiterate that economic activity has been expanding at a solid pace and that, while job gains have moderated from early last year, they remain strong, and the unemployment rate is low…
With monetary policymakers observing the traditional blackout period on public appearances ahead of the March 19-20 Federal Open Market Committee meeting, all eyes will be on the economic release calendar. The Bureau of Labor Statistics’ update on consumer goods and services costs in February likely will be the marquee report. The Street is anticipating mixed results, with overall prices quickening but the core consumer price gauge slowing. On a year-over-year basis, the growth rates of both measures are expected to remain well above the Federal Reserve’s desired 2% target. Soundings on retail sales and industrial production will allow economists to update their tracking estimates of real GDP growth during the current quarter…
Market participants will face a heavy data calendar and public appearances by Fed officials this week. The marquee economic report will be Friday’s BLS’ update on the employment situation in February. Labor market conditions likely remained extremely tight last month. Recent soundings on initial and continuing jobless claims point to a 250K rise in nonfarm payrolls, after a pair of 300K-plus leaps in November and December. Due to an extremely favorable shift in weather conditions between the January and February establishment survey periods, however, that projection could prove too low. The number of persons unable to work because of inclement weather clocked in at 553K in January, double the average witnessed over the prior ten years for that month…
Market participants will contend with a very crowded economic release calendar this upcoming week. Updates on capital equipment deliveries, consumer spending, motor vehicle purchases, and new home sales in January likely will prompt economists to refresh their tracking estimates for current-quarter real GDP growth…
Returning from the Presidents Day holiday, market participants will face an extremely quiet economic release calendar. The continuing decline in the Conference Board’s Index of Leading Economic indicators is expected to have moved one month closer to its two-year anniversary in January. Initial claims for unemployment insurance probably remained historically low during the reference period for the February employment situation report…
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