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Weekly Market View

Weekly Market View

Tuesday, January 16, 2018

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THE WEEK THAT WAS

January 8: The University of Alabama beat Georgia in the NCAA football championship Monday night in a 26-23 overtime thriller. Alabama was losing 13-0 at half-time, but coach Nick Saban gambled and brought in a freshman quarterback (Tua Tagovailoa) for the second half. Mr. Tagovailoa helped win the game in overtime. Alabama has won five national titles in the last nine seasons. Coach Nick Saban has won six national titles, tying him with legendary Alabama coach Paul “Bear” Bryant for the most national titles in college football championship history.

January 9: U.S. Treasury yields surged Tuesday in a bear-steepening move. The 10-year was up 7 bps to 2.55 percent after the Bank of Japan implemented a minor tweak in its bond purchase program overnight as they bought less in the long end of the curve.

January 10: U.S. Treasury yields were higher this morning. The spike follows after a Bloomberg article about China potentially buying fewer treasuries pressured the market. However, after a better than expected 10-year auction, treasuries recovered to close flat on the day.

January 11: Wal-Mart announced Thursday that it will raise wages and give out bonuses as a result of the new tax plan passed by Congress late last year. Wal-Mart said it will increase starting salaries from $9 per hour to $11 per hour and give one-time bonuses of up to $1,000 to hourly workers. However, later in the day it was announced it would be closing 63 Sam’s Club locations and laying off thousands of workers.

January 12: The United States Commerce Department reported a 0.4 percent increase in retail sales in December, an upward trend for the fourth consecutive month, capping the strongest year for sales growth since 2014.

Banking & Economic News

Ford CEO: NAFTA Needs Modernization
Learn more (January 10, 2018; money.cnn.com)

Will Enough Tax Be Withheld from Your Paycheck
Learn more (January 10, 2018; money.cnn.com)

Oil Reaches $70 a Barrel for First Time in Three Years
Learn more (January 11, 2018; bloomberg.com)

The Electric Car Boom Is Running into a Metal Crunch
Learn more (January 11, 2018; bloomberg.com)

Tax Reform Will Be Gravy for the Banks
Learn more (January 11, 2018; finance.yahoo.com)

Walmart to Raise Its Starting Wage to $11
Learn more (January 11, 2018; finance.yahoo.com)

 

THE WEEK TO COME

January 15 (All times are CT)
  • Martin Luther King Jr. Day – Markets Closed
January 16
  • Empire Manufacturing at 7:30 a.m.
January 17
  • MBA Mortgage Applications at 6:00 a.m.
  • Industrial Production at 8:15 a.m.
  • Capacity Utilization at 8:15 a.m.
  • Manufacturing (SIC) Production at 8:15 a.m.
  • National Association of Home Builders Housing Market Index at 9:00 a.m.
  • Total Net Treasury International Capital Flows at 3:00 p.m.
January 18
  • Housing Starts at 7:30 a.m.
  • Building Permits at 7:30 a.m.
  • Philadelphia Federal Reserve Business Outlook at 7:30 a.m.
  • Initial Jobless Claims at 7:30 a.m.
  • Continuing Claims at 7:30 a.m.
  • Bloomberg Economic Expectations at 8:45 a.m.
  • Bloomberg Consumer Comfort at 8:45 a.m.
January 19
  • University of Michigan Sentiment at 9:00 a.m.
  • University of Michigan Expectations at 9:00 a.m.
  • University of Michigan 1-Year Inflation at 9:00 a.m.
  • University of Michigan 5- 10-Year Inflation at 9:00 a.m.
  • University of Michigan Current Conditions at 9:00 a.m.

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