On a holiday-shortened week, home sales and price data came in solidly, as did jobless claims; manufacturing data came in expansionary but at a slower pace, while consumer sentiment declined a bit.
Weekly Economic Update | LSA Connect
Our Thoughts on Current Market Volatility
As of the time of this writing, global markets have experienced a fairly meaningful selloff through mid-October, with the S&P 500, Developed Market Equities, Emerging Market Equities and US Fixed Income having fallen ~5%, ~7%, ~8% and ~1%, driven partly by the sudden spike in the 10-year yield to ~3.25% and fears of slowing global growth
- Economic data for the first week of the new year showed strength in manufacturing, a weaker result for services ISM, and a mixed result in employment, with strong jobless claims and ADP employment numbers, while the government employment report disappointed with challenging winter weather.