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Clarksville, TN – This week, the economic calendar picks up with fresh November figures. The focus is expected to be on the Employment Report, although the European Central Bank’s policy decision may be more critical.
ECB President Mario Draghi has repeatedly signaled that QE is on its way. Will the ECB pull the trigger this week? Seems likely (but if not, then in January).
Nonfarm payrolls were likely to have risen at a moderately strong pace, but seasonal adjustment could distort the figures (so take with a grain of salt).Note that with a short four-week period between Thanksgiving and Christmas, retailers have been trying to pull forward holiday sales with earlier discounts and promotions.
We’re likely to see retail hiring pick up earlier than usual, adding to the total (note that the retail jobs added in November and December will disappear in January).
Market participants will also be interested in the monthly ISM surveys, especially the manufacturing data (which may set the tone for the week).
Consumer Money Rates
Treasury Yield Curve – 11/28/2014
S&P Sector Performance (YTD) – 11/28/2014
US government bonds and treasury bills are guaranteed by the US government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. US government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the US government.
Commodities trading is generally considered speculative because of the significant potential for investment loss. Markets for commodities are likely to be volatile and there may be sharp price fluctuations even during periods when prices overall are rising. Specific sector investing can be subject to different and greater risks than more diversified investments.
Tax Equiv Muni yields (TEY) assume a 35% tax rate on triple-A rated, tax-exempt insured revenue bonds.
The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Data source: Bloomberg, as of close of business November 27th, 2014.
Frazier Allen, WMS, CRPS, Financial Advisor with F&M Bank
Web Site: http://www.raymondjames.com/frazierallen
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