Here is what happened in the Capital Markets this week.
The Weekly Bottom Line (please click link to open)
The Weekly Bottom Line, courtesy of TD Economics, includes a review of market performances, recent key economic indicators, a calendar of upcoming key economic releases, and other relevant data. The highlights from this week’s report include:
· The U.S. economy grew a robust 2.9% in 2018, the best performance since 2015, but growth moderated at the end of the year and at the start of 2019. The government shutdown and soft consumer spending in December are expected to translate into near 1% growth this quarter.
· Extending the barrage of negative housing data, housing starts plunged by 11.2% (m/m) in December to 1.08 million (annualized).
· Manufacturing data remained soft. The U.S. ISM manufacturing index declined in February, and manufacturing contraction in Europe and Asia broadened further. Soft global activity reinforces the Fed’s patient stance.