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Weekly Market Commentary

1.14.19

Last week mortgages and bonds held their ground with the yield on US 10yr Treasuries climbing to just above 2.70%. This was a small rise given that equities performed well.  The week was highlighted by US-China trade talks and the continuing US government shutdown. 

The key economic releases this week are the retail sales report, scheduled for Wednesday, and the Philadelphia Fed manufacturing index on Thursday. There are a few scheduled speaking  
engagements by Fed officials, including by New York Fed President Williams and Vice Chairman for Supervision Quarles. The retail sales and business inventories reports will be postponed if the  
federal government is still partially shut down. The factory orders, advance goods trade balance,  
wholesale and retail inventories, new home sales, and construction spending reports, which were not released in prior weeks, may be released if the federal government reopens. 

Economic Calendar for the week of 01/14/2019 to 01/18/2019: 

Monday: N/A 
Tuesday: Empire Manufacturing, PPI, Retail Inventories, New Home Sales, Construction Spending, Factory Orders, Durable Goods Orders, Monthly Budget Statement and Trade Balance 
Wednesday: MBA Mortgage Applications, Retail Sales, Import Price Index, Export Price Index, Business Inventories, NAHB Housing Market Index and Beige Book 
Thursday: Building Permits, Housing Starts, Philadelphia Fed Business Outlook, Initial Jobless Claims, Continuing Claims, Bloomberg Consumer Comfort,   
Friday: Industrial Production, Capacity Utilization and University of Michigan Sentiment 

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