Market Updates
The U.S. services sector contracted for the first time in about a decade last month, as the coronavirus pandemic brought economic activity to a screeching halt. Household debt increased to a total of $14.3 trillion last quarter, the 23rd straight quarterly increase....
Market Updates
The Fed met this week, leaving policy rates unchanged as expected. The Fed committed to continue buying bonds, which should help keep rates low. The 1st qtr GDP declined more than expected, down 4.8% versus estimates of 3.5%. This was the first negative reading since...
Market Updates
A recent Reuters poll shows a majority of economists believe we will see a "U-shaped" economic recovery, in which the economy will stabilize a while before climbing to previous levels. After the first round of paycheck protection funding disappeared quickly, Congress...
Market Updates
Retail sales suffered a record drop of 8.7% in March, as stay-at-home orders and mandatory business closures to control the spread of COVID-19 curbed spending. Over 1.3 million Paycheck Protection Program loans were approved for more than $296 billion through...
Market Updates
Congress is passing a $2 trillion stimulus package to blunt the pandemic’s toll on the economy. The plan includes direct payments to Americans, as well as increased unemployment benefits. The Fed has pledged unlimited asset purchases to support markets as...
Market Updates
The economic fallout from the now pandemic COVID-19 coronavirus continues to grow. Stocks have plummeted globally and have now entered a bear market. Mortgage rates have recently spiked higher, despite stocks’ losing ground. The media will be late reporting this, as...
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