The US economy continued to expand through last month at a moderate pace, albeit at a rate that’s slightly below the historical trend, according to this morning’s update of the Chicago Fed National Activity Index. The business-cycle benchmark’s three-month average (CFNAI-MA3) ticked up to -0.07 in February, close to The Capital Spectator’s projection. The main takeaway: recession risk remained relatively low through last month, a message that echoes last week’s US macro profile.
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Daily Archives: March 21, 2016
Markets Post Across-The-Board Gains For A Fifth Week
Positive momentum prevailed again last week for the major asset classes, based on a set of proxy ETFs. For the fifth consecutive week through Friday, Mar. 18, the risk-on trade delivered another round of profits across the board. The trailing one-year period still reflects plenty of damage, but the red-ink brigade continued to retreat on this front, leaving the field evenly split among winners and losers.
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Initial Guidance | 21 March 2016
● UoM’s US Consumer Sentiment Index falls to 5-mo low in Mar | UoM
● US business inflation expectations stable at 1.8% in Mar | Atlanta Fed
● Richmond Fed’s Lacker: Inflation Expectations Well Anchored | MNI
● ECB Can Cut Rates Further If New Shocks Emerge | RTT
● China’s central banker: High corporate debt is a risk | CNN
● Obama to meet Raul Castro on historic Cuba trip | Reuters