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
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…
The Federal Open Market Committee (FOMC) meeting will be the marquee event of the upcoming week. The FOMC is 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 continued to expand at a solid pace, job gains have remained strong, and the unemployment rate is low…
The upcoming week contains a moderately busy economic release calendar, clearly led by the June 7th employment situation report from the Bureau of Labor Statistics (BLS). Recent data has generally been supportive of the “Fed-on-hold” theme, and an ongoing sturdy jobs market has been a pillar in this regard. Therefore, the report will warrant the market’s scrutiny…
Market participants will face a comparatively light statistical calendar in the upcoming week. Closings on existing dwellings probably rebounded last month, while durable goods bookings took a breather. Consumer confidence likely bounced in the latter half of May, reversing a portion of the deterioration witness in the early part of the month…
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