Better News For Jobs and Housing

The Baker Group's Market Moment Cover

In a report this morning, the Census Bureau announced that Housing Starts in December rose by 5.8% against an expected gain of just 0.8%. November’s growth of 1.2% was revised to 3.1%. Building Permits rose 4.5% last month versus a forecast of a 1.7% decline. Another unexpected improvement was the move made by the Philadelphia […]

Vaccine Hopes Boost Markets

The Baker Group's Market Moment Cover

Well, some markets. News over the weekend that efforts to develop a workable COVID-19 vaccine may be be getting some regulatory acceleration has lifted equity markets across the globe. Domestically, the DJIA is poised to open with triple-digit green arrows while Treasury prices slip a little bit. Today’s only scheduled data announcement has already been […]

Consumers Less Confident in July

The Baker Group's Market Moment Cover

According to the Conference Board’s latest survey, consumers are less confident this month than they were in June. The Consumer Confidence Index fell to 92.6 from an upwardly revised 98.3 when forecasts called for only a dip to 95. The Present Situation sub-index fared better with a move to 94.2 from 86.7. But, and this […]

It’s Fed Week and Bonds Like It

The Baker Group's Market Moment Cover

The FOMC will begin its day-and-a-half meeting tomorrow and Treasury investors are already making adjustments for what is expected to be a dovish event. In early trading, Treasury prices are up slightly, but not enough to move the Ten-Year off of its 58 basis point perch. The rally in gold continues as new records are […]

Bonds Rally While Equities Take a Breather

The Baker Group's Market Moment Cover

The U.S. Treasury market is poised to begin its day with higher prices and lower yields. Yesterday afternoon’s announcement by the Federal Reserve that its Main Street Lending Program would be expanded to include more companies while easing restrictions on lending banks sparked a bond rally that continues this morning. The Ten-Year’s price is up […]

Big Data Day

The Baker Group's Market Moment Cover

This data-rich day began with the Philadelphia Fed reporting that its Business Conditions Index fell more than expected to minus 43.1 from minus 56.6. An improvement over April, but worse than the anticipated improvement to minus 40. The news didn’t improve much with the BLS announcement of 2.44M new Jobless Claims for the week ending […]

Retail Sales Plunge; Bonds Rally

The Baker Group's Market Moment Cover

Just out this morning, Retail Sales in April fell by a larger-than-expected 16.4% while surveys suggested just a 12% drop. Core Retail Sales, without food, autos, building materials and gas stations, plummeted by over 15% against an expected fall of just 5%. Also out was the New York Fed’s Empire Manufacturing Index which managed to […]