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Scant Signs of Inflation Imply Only Two More Fed Hikes This Year

Last Week: Interest rates were mixed as equities showed a solid advance. Yields on US 10-year Treasury notes were unchanged at 2.96% – despite topping 3% once again mid-week – while 1-month LIBOR declined to 1.9187% from 1.9285% the week prior. Oil hit $71.17 – its highest level since December 2014 – while the US […]

Flying on One Engine

Last Week: Friday’s release of July Retail Sales data was the highlight of the week, and left markets disappointed as purchases by consumers were flat over the prior month. The lackluster report doesn’t bode well for an economy that is now dependent on vigorous spending by consumers to keep economic growth positive in the second half […]