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Market Brief – Thursday 5/21/20

Stocks were flat in overnight trading even as preliminary factory surveys from the Eurozone showed further contraction and no sign of a “V” shaped recovery. After the U.S. economic data this morning, stocks headed lower. Treasury yields also fell in overnight trading and continued falling in early trading. Initial jobless claims missed expectations by coming … Read more

Market Brief – Tuesday 5/19/20

Stocks traded slightly higher in early trading while Treasury yields were slowly following. Treasury Secretary Mnuchin and Fed Chair Powell testified to Congress today about the CARES Act, which had investors hoping Powell would provide forward guidance on monetary policy. Powell did indicate the Fed will likely be providing more liquidity in the future. Housing … Read more

Market Brief – Wednesday 5/13/20

Stocks and Treasury yields were mostly unchanged from last night’s close despite producer prices deflating last month. Fed Chair Powell failed to inspire confidence this morning when he spoke via webcast to the Peterson Institute for International Economics, where many expected him to address the Fed taking the funds rate into negative territory. Mortgage applications … Read more