During the next two decades, an estimated 76 million baby boomers – the bulge of the Western population born between 1946 and 1964 – will begin the process of going from growing and accumulating earnings to retiring and distributing their wealth.
Thursday morning, Treasury Secretary Steven Mnuchin told CNBC that we could expect “significant” tax reform by August, including tax cuts for middle-income Americans and corporations. Like clockwork, the major stock indices rallied to all-time highs in intraday trading.
Investors often ask us which of the two primary bond market risks—interest rate or credit—they should focus on in 2017. Our answer? Both of them—and the interaction between the two.
This morning's release of the January New Home Sales from the Census Bureau came in at 555K, up 3.7% month-over-month from a revised 535K in December. Seasonally adjusted estimates for October and November were also revised. The Investing.com forecast was for 570K.
The Chicago Fed's National Activity Index, which we reported on yesterday morning, is based on 85 economic indicators drawn from four broad categories of data:
It’s hard to believe that U.S. President Donald Trump has only been in office for a month, given the dizzying activity in Washington. Yet our observations from before the inauguration seem to be holding true, at least so far: Governing is indeed harder than campaigning.
Today's release of the publicly available data from ECRI puts its Weekly Leading Index (WLI) at 144.6, up just 0.1 from the previous week. It is currently just below its all-time high. Year-over-year the four-week moving average of the indicator is now at 12.32%, up from 12.17% the previous week, and at an interim high. The WLI Growth indicator is now at 10.5, down slightly from the previous week.
The University of Michigan Final Consumer Sentiment for February came in at 96.3, down from the January Final reading of 98.5, but inched up from the February preliminary of 95.7. Investing.com had forecast 96.0.
"Index shows economic growth decreased in January." This is the headline for today's release of the Chicago Fed's National Activity Index, and here is an excerpt from opening summary: "Three of the four broad categories of indicators that make up the index decreased from December, and two of the four categories made negative contributions to the index in January."
With Federal Reserve Chair Janet Yellen on Capitol Hill for two days of testimony last week, plus Vice Chairman Stanley Fischer’s interview on Bloomberg TV, plus the upside surprise on U.S. CPI inflation data released on 15 February, the minutes...