Member Services Desk
Weekly Market Update
We are pleased to announce the launch of our Member Services Desk (MSD) Weekly Market Update. In response to member feedback and in an effort to provide our membership with valuable insight to help further your business goals, the MSD Weekly Market Update is designed to provide insight into current market trends and news and will be released every Monday.
If you would like to receive the MSD Weekly Market Update in .pdf format (includes FHLBNY rate charts) or to discuss this content further, please email the MSD Team.
Recent Weekly Market Updates
Market participants will face a hectic economic release and Federal Reserve speech calendar this coming week. Largely reflecting ongoing supply constraints, closings on existing homes and contract…
The Federal Open Market Committee (FOMC) meeting will headline a very hectic week. Acknowledging recent positive developments on the economic and healthcare fronts, the FOMC is expected to reiterate that it expects to maintain an accommodative stance on monetary policy, with a federal funds rate target range of 0 to .25%, until it achieves maximum employment and inflation at a rate of 2% over the longer run…
Market participants will enjoy a well-deserved rest this week. Except for the Bureau of Labor Statistics’ update on consumer prices in May, the light statistical calendar contains primarily second-tier releases. Small business confidence and consumer sentiment gauges probably….
Post the holiday weekend, market participants will contend with a busy economic data calendar. Construction spending probably climbed at the beginning of the spring quarter. Manufacturing and service-producing purchasing manager gauges are expected to have remained deep in expansionary territory in May. Motor vehicle purchases likely took a breather following April’s breakneck pace. Labor market conditions likely improved markedly in May. Federal Reserve officials will make several appearances in the first few days of June to discuss a variety of timely issues.
Market participants will have to weather a fairly hectic economic release calendar ahead of the Memorial Day weekend. The latest soundings on housing are expected to be mixed in their latest respective reporting periods. Home selling prices probably remained on a tear at the close of the winter quarter. New home purchases likely retreated in April, while contract signings edged marginally higher. Buoyed by growing vaccinations and improving labor market conditions, consumer confidence probably climbed to a 15-month high. Without the support from massive federal support payments, personal income is expected to have fallen sharply in April, after a record March gain. Real consumer spending likely dipped last month, but remained well above its Q1 average, supporting calls for a marked pickup in current-quarter real GDP growth…
Housing data will dominate the economic release calendar this week. Despite a likely dip in groundbreakings in April, builders’ appraisals of conditions in their sector probably remained rosy in May. Constrained by a dearth of available dwellings on the market, existing home sales are expected to have declined below the 6mn mark last month. Consistent with upbeat real GDP projections for the remainder of 2021, the Index of Leading Economic Indicators is expected to have posted yet another solid gain. Closer to home, the expansion in New York State factory activity likely continued at a solid clip in May…
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