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...
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...
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...
Panic surrounding spread of the coronavirus and the global economic fallout have stocks plummeting. Investors seeking safe havens have turned to bonds, improving mortgage rates. The 10yr Treasury yield has reached record lows, falling below 1.0% for the first time in...
Concerns about the global economic fallout of a spreading coronavirus continue to cause stocks to plummet and bond yields to drop, helping keep mortgage rates low. The economy grew moderately in the 4th qtr, but slower than initially reported. Consumer spending, which...
Investors are increasingly worried about the spread of the coronavirus outside China. Concerns over the economic impact of the virus are helping rates remain low. Producer prices increased by the most in more than a year in January, but most of the uptick appeared to...
Fed Chair Powell gave his semi-annual testimony before Congress. He said the Fed is “closely monitoring” the coronavirus for potential effects on the worldwide economy. Investor fears of the global economic impact of the coronavirus have helped keep...
Manufacturing activity rebounded in January, with the ISM index at its highest level since July. The improvement likely reflects ebbing trade tensions with China. Fears of a slowdown in the global economy caused by the coronavirus are dissipating. Stocks have...
The Fed left rates unchanged this week, as was expected. Fed Chair Jerome Powell signaled the central bank would adjust policy as needed to support 2% inflation. The deadly coronavirus that started in China continues to spread. Concerns over the economic costs of the...
Stocks across the globe are taking a hit this week as investors react to mounting concerns about a deadly virus in China and its effect on travel and spending. President Trump is threatening more tariffs on European auto imports if the bloc doesn’t agree to a...
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