Market Moment

The Baker Market Moment is your way to stay on top of the latest in economic events and market-moving news. Whether it’s the latest news from the Fed or the latest number from Wall Street, the Baker Market Moment is where you can find it.

Brexit Talks Looking Iffy

News overnight that trade negotiations between the United Kingdom and the European Union aren’t going so well has investors a little disquieted as equity markets struggle to maintain their momentum. Also in the news are renewed prospects for a possible fiscal stimulus deal before year’s end along with rising optimism

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Jobs Numbers Come in a Little Light

The Bureau of Labor Statistics just released its November Jobs Report and the numbers are somewhat disappointing. According to its Establishment Survey, 245 jobs were added to Non-Farm Payrolls last month. Analysts were expecting growth of 460k while October’s total of 638k was revised to 610k. While the Unemployment Rate

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Jobless Claims Lower Than Expected

Just in from the Bureau of Labor Statistics, Initial Jobless Claims for the week ending November 28th rose by 712k in a decline from the prior week’s slightly revised 787k. The week’s total was also less than the 775k that analysts expected. Continuing Claims for the week ending November 21st

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ADP Jobs Report Misses Estimates

The ADP National Employment Report was released this morning and showed that payrolls grew by 307k last month. This was well short of the 440k that was forecast while October’s count of 365k was revised to 404k. On Friday, the Bureau of Labor Statistics will release its Jobs Report for

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Bonds Steady as Equities Rebound

Treasury prices may have slipped a bit here and there in overnight trading, but yields are little changed as markets prepare to open. The Treasury Ten-Year is still around 85 basis points and the Long Bond is still just below 1.60%. After taking a breather yesterday, the rally in equity

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Quiet Start to the Week

It’s Monday, and that means vaccine news. While no new announcements came from any drug laboratories about new vaccine candidates, Moderna did announce that it would be seeking emergency FDA approval for its version of a COVID vaccine after the latest clinical trials indicated 94.1% effectiveness with no safety issues.

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Markets Look to Quietly Close-Out the Week

It may be Black Friday, but the traditional shopping frenzy is a little different this year and financial markets are winding up this week in a decidedly unfrenzied manner. With no new data on today’s schedule, bonds and stocks are both up a little bit, crude oil prices haven’t changed

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Personal Income Slipped in October

The Bureau of Economic Analysis just released a report showing that, in October, Personal Income fell by 0.7% and that was far more than the 0.1% dip that analysts expected. Personal Spending still managed a 0.5% rise and that slightly beat estimates. Inflation-adjusted Real Personal Spending rose by 0.5% and

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Jobless Claims Rise Again

The Bureau of Labor Statistics announced this morning that, for the week ending November 21st, Initial Jobless Claims totaled 778k on the heels of the prior week’s slightly revised 748k. Analysts were expecting 730k. For Continuing Claims, the week ending November 14th saw that total fall to 6.07M from 6.37M

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Consumer Confidence Falls Hard in November

The Conference Board just announced that its Consumer Confidence Index fell to 96.1 this month. October’s reading of 100.9 was revised to 101.4 as analysts expected November to come in at 98. The Expectations sub-index fell to 89.5 from 98.2. More disquieting news came from the Richmond Fed who just

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Home Prices Rose More Than Expected in September

Just out from the Federal Housing Finance Agency, its House Price Index rose 1.7% in September against an expected rise of just 0.8%. More Housing news from Case-Shiller CoreLogic showed that its 20-City House Price Index rose by a greater-than-expected 1.27% in September and that took the year-over-year price gain

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Vaccine Momentum Carries On

Investors’ reaction to recent, positive vaccine developments have continued to push equity indices higher while Treasury prices slip a little lower. The apparent selection of Janet Yellen as Treasury Secretary is also credited with elevating investor outlooks. The Ten-Year’s yield has moved up a couple of basis points to 0.87%

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More Vaccine News Lifts Optimism

AstraZeneca announced this morning that recent trial results for its COVID-19 vaccine indicate its effectiveness could be as high as 90%. Today’s news marks the third week in a row that a drug-maker has reported such a breakthrough and renewed optimism has lifted equity indices while Treasury bonds have sold

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Treasuries Quietly Closing Out the Week

Even with no macroeconomic data scheduled for publication today, markets participants still have plenty of variables to consider. The dispute between the Treasury and the Fed about what to do with untapped funds from various pandemic-related support programs remains unresolved. A resurgence in COVID cases has caused somewhat of a

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Jobless Claims Remain Stubbornly High

The Bureau of Labor Statistics reported this morning that, for the week ending November 14th, Initial Jobless Claims rose to 742k from the prior week’s 711k, revised from 709k. Continuing Claims for the week ending November 7th dipped slightly to 6.37M from the prior week’s slightly revised 6.8M. This result

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