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 Monday.
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 will be the marquee event of the week. Expectations for its outcome have been extremely volatile. Following the hawkish interpretation of Federal Reserve Chair Powell’s semi-annual report on monetary policy to Congress, market participants were pricing in yet another hike in the federal funds rate target range with complete certainty, with traders and investors placing a little over 70% chance of a larger 50-basis-point move. Since then, turmoil in the banking sector has pared the probability of any increase based on futures pricing…
With Federal Reserve officials observing the traditional blackout period ahead of the March 21-22 FOMC meeting, market focus will be squarely on the data calendar. Given its potential to influence the upcoming FOMC decision, the BLS update on consumer prices last month will be the key release…
Federal Reserve Chair Jerome Powell’s Semi-Annual Monetary Policy Report to the Congress will be the marquee event this week. Given the significant increases in market expectations of prospective federal funds rate hikes since last month’s Federal Open Market Committee meeting, traders and investors will be interested…
While market participants will contend with a very crowded economic release calendar this week, the Bureau of Labor Statistics’ update on the employment situation in February will be delayed until Friday, March 10. This week’s slate of indicators is expected to be decidedly mixed. On the positive side, closely followed canvasses of manufacturing and service-producing activity likely will show further improvements from their reported January readings…
With the upcoming Presidents’ Day weekend, market participants will encounter a lighter economic release calendar. Sales of both existing and newly constructed dwellings probably rose at the beginning of the 2023. Current data suggest that real GDP growth likely topped the 3% mark once again during the fall quarter. Soundings from the January employment report point to a solid jump in personal income in January, buoying an anticipated rebound in consumer spending…
Market participants will contend with a crowded data calendar and public appearances by a quintet of Fed officials this upcoming week. Since the January jobs report, the spate of hawkish comments from policymakers suggests that the Bureau of Labor Statistics (BLS) update on consumer prices will be the most important data…
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