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Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 28th, 2017

F&M Investment Services - Raymond James - Clarksville, TNClarksville, TN – Next week, the economic calendar picks back up and the Senate returns to work on its version of a tax-cut bill.

However, the focus is expected to be on Jay Powell’s Fed chair nomination hearing. Powell is unlikely to speak about the near-term policy outlook (what the Fed will do in December), but lawmakers will ask about his broader approach to monetary policy and banking regulation (expect vigorous questioning from Senator Warren, but he should eventually receive approval in a full Senate vote).

Frazier Allen
Frazier Allen

Components of 3Q17 GDP have been mixed, but we’re likely to see an upward revision to the third quarter growth estimate.

Personal income and spending figures will help to fill in the picture of early 4Q17.



  Last Last Week YTD return %
DJIA 23526.18 23458.36 19.04%
NASDAQ 6867.36 6793.29 27.57%
S&P 500 2597.08 2585.64 16.00%
MSCI EAFE 2013.95 1985.58 19.59%
Russell 2000 1516.76 1486.88 11.76%


Consumer Money Rates

  Last 1 year ago
Prime Rate 4.25 3.50
Fed Funds 1.16 0.41
30-year mortgage 3.96 4.18



  Last 1 year ago
Dollars per British Pound 1.331 1.245
Dollars per Euro 1.185 1.055
Japanese Yen per Dollar 111.22 113.33
Canadian Dollars per Dollar 1.271 1.349
Mexican Peso per Dollar 18.624 20.744



  Last 1 year ago
Crude Oil 58.02 46.06
Gold 1296.80 1181.00


Bond Rates

  Last 1 month ago
2-year treasury 1.72 1.62
10-year treasury 2.33 2.46
10-year municipal (TEY) 3.22 3.14


Treasury Yield Curve – 11/24/2017

Treasury Yield Curve – 11/24/2017

As of close of business 11/23/2017


S&P Sector Performance (YTD) – 11/24/2017

S&P Sector Performance (YTD) – 11/24/2017

As of close of business 11/23/2017


Economic Calendar

November 27  —  New Home Sales (October)
November 28  —  CB Consumer Confidence (November)
   —  Powell Nomination Hearing
November 29  —  Real GDP (3Q17, 2nd estimate)
   —  Pending Home Sales Index (October)
   —  Fed Beige Book
November 30  —  Jobless Claims (week ending November 25)
   —  Personal Income and Spending (October)
December 1  —  ISM Manufacturing Index
   —  Motor Vehicle Sales (November)
December 8  —  Employment Report (November)
December 13  —  Consumer Price Index (November)
   —  FOMC Policy Decision (Yellen press conference)
December 14  —  Retail Sales (November)
December 25  —  Christmas Holiday


Important Disclosures

Past performance is not a guarantee of future results. There are special risks involved with global investing related to market and currency fluctuations, economic and political instability, and different financial accounting standards. The above material has been obtained from sources considered reliable, but we do not guarantee that it is accurate or complete. There is no assurance that any trends mentioned will continue in the future. While interest on municipal bonds is generally exempt from federal income tax, it may be subject to the federal alternative minimum tax, state or local taxes. In addition, certain municipal bonds (such as Build America Bonds) are issued without a federal tax exemption, which subjects the related interest income to federal income tax. Investing involves risk and investors may incur a profit or a loss.

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.

Material prepared by Raymond James for use by its financial advisors.

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 23rd, 2017.

©2017 Raymond James Financial Services, Inc. member FINRA / SIPC.

Frazier Allen
Frazier Allenhttp://www.raymondjames.com/frazierallen
Frazier Allen, WMS, CRPS, Financial Advisor with F&M Bank 50 Franklin Street | Clarksville, TN 37040 | 931-553-2048

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