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:
· This week started off on an upbeat note. An uptick in the ISM non-manufacturing index got the ball rolling, with the headline rising by 3.0 points to 59.7 in February.
· In a nice twist to the recent doom and gloom, housing data was also encouraging. Sales of new homes rose 3.6% in December, and housing starts surged by 18.6% in January.
· The positive economic news faced a setback on Friday as the payroll report showed job growth slowing to just 20k in February. The soft payroll print is unlikely to stay, but works to reinforce the Federal Reserve’s current “patient” approach.