U.S. - Hiring Report Telling You Be of Good Cheer

• The latest hiring data are an encouraging sign that the U.S. economy is withstanding the global slowdown and continued trade-related uncertainty. Solid labor market conditions echo the Fed’s assessment that the current stance of monetary policy remains appropriate. The FOMC

U.S. - Fundamentals Continue to Support Festive Holiday Spending

• Despite easing for the fourth consecutive month, confidence still remains near its cycle high in November as consumers continue to focus on their own economic prospects, while discounting political drama out of Washington D.C. and concerns from abroad.
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U.S. - Steady for Now

• Minutes from the October FOMC meeting indicated the Fed is content to remain on the sidelines for the rest of this year as the looser financial conditions resulting from rate cuts at three consecutive meetings feed through to the economy.
• Mixed reports this week about the prospects of a P

U.S. - The Consumer-Producer Divide on Full Display 

• Retail sales beat expectations and rose 0.3% in October, reflecting the ongoing strength of the consumer. Control group sales, a major input to GDP, also increased 0.3%. 
• Industrial production in October declined 0.8%. Overall production re

U.S.  - A Trade War Armistice? Don�t Make it a Holiday Yet

• Optimism soared this week on hopes of a forthcoming trade deal, as equity markets hit all-time highs and the yield curve steepened.
• Due to the lack of concrete details, we are sticking to our assumption that the 15% tariffs on $156 billion o

U.S - Looking Back at a Soft Q3

• Sales of existing homes fell 2.2% to a 5.38 million-unit pace in September, but sales and prices were still up enough in the quarter that they will add solidly to Q3 GDP growth.
• Overall durable goods orders fell 1.1% in September, reflecting weak demand for aircraft and motor vehi

U.S - Cracks in the Foundation?

• Personal consumption is still on track for a solid Q3, but retail sales declined in September for the first time in seven months.
• Manufacturing data were certainly influenced by the GM strike, but output has now fallen in six months this year, and survey evidence has yet to point

U.S - Survey Says

• Survey evidence flashed signs of contraction in the manufacturing sector and indicated weakness spreading to the services side of the economy, while employers added a less-than-expected 136K jobs in September.
• While hiring is likely to continue to slow, there is evidence the labor market remain

U.S - Politics Takes Center Stage

• The release of the transcript of President Trump's phone conversation with Ukraine President Volodymyr Zelenskiy and the whistle blower complaint overshadowed most of this week's economic reports and took bond yields modestly lower.
• Consumer confidence came in weaker than expect

U.S - Fed Cuts Again, But Dissent Rises

• The Federal Reserve reduced the fed funds rate 25 bps this week, continuing to cite economic weakness overseas and â��muted inflation pressures.â��
• The higher pace of home sales and improving builder confidence should feed through to stronger construction later