Weekly Market Commentary 07/21/2017
Data on the economic front was exceptionally sparse this week, highlighted by reports on homebuilding activity. From a market perspective no news constituted good news, as stock prices continued to hit new records amid some favorable earnings releases and increasing signs that the Federal Reserve will not drain the punch bowl as quickly as thought a month or so ago. It is almost certain that no action will be taken at the upcoming meeting on July 25-26, and the odds of a third rate hike this year has diminished significantly given the soft inflation readings that may not be as transitory as the Fed hopes.
- DATE: July 24, 2017
- TYPE: PDF
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