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Weekly Market Commentary

07.16.18

Last week saw mortgage rates hardly move. While equities experienced some gains with both the S&P 500 and Dow Jones Indexes gaining, bonds were very quiet. Bonds were so quiet that the yield on US 10yr Treasuries was unchanged for the week 

This week bring little in terms of data releases and will likely be highlighted by continued talk of trade wars, especially with China. Monday, the highlight is likely to be the June retail sales report, while the July empire manufacturing report and May business inventories data are also due. Away from that, the IMF is due to release its World Economic Outlook. Politics is likely to be a big focus too with US President Trump holding talks with his Russian counterpart President Vladimir Putin and the China - EU summit starting in Beijing. The main highlight on Tuesday is likely to be Fed Chair Powell delivering his semi-annual testimony to the Senate Panel in the afternoon. We've also got June industrial and manufacturing production prints along with the July NAHB housing market index release all scheduled. Wednesday, June housing starts, and building permits data are due before the Fed's Beige Book in the afternoon.  Thursday, we receive weekly initial jobless claims data followed by the release of the July Philadelphia Fed business outlook and June leading index. On Friday, we don’t have any data.

Economic Calendar for the week of 07/16/2018 to 07/20/2018:

Monday: Empire Manufacturing, Retail Sales and Business Inventories

Tuesday:  Industrial Production, Manufacturing Production, Capacity Utilization, and NAHB Housing Market Index

Wednesday: MBA Applications, Housing Starts, Building Permits, and US Federal Beige Book

Thursday: Initial Jobless Claims, Continuing Claims, Philadelphia Fed Business Outlook, Bloomberg Consumer Comfort Index and Leading Index

Friday: N/A

Please Note: The above Market Commentary information is updated weekly.