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LCP Market Reviews

September 20, 2021

September 20, 2021

Investors pondered a few significant data surprises during the week. On Tuesday, the Labor Department reported that core (less food and energy) consumer prices increased 0.1% in August, below consensus expectations for a 0.3% increase and the smallest gain since February.


9/20/2021 Market Review


September 13, 2021

September 13, 2021

According to traders, trading activity was relatively quiet in the municipal bond market during the holiday-shortened week, and steady cash flows continued to reinforce low yield levels. They also indicated that demand for longer maturities in the secondary market was somewhat soft as investors appeared to be waiting for dealers to clear more inventory of long-term securities.


9/13/2021 Market Review

September 6, 2021

September 6, 2021

The slowdown in employment gains was confirmed in the official August report on Friday, which seemed to provoke a mixed reaction in markets. Nonfarm payrolls grew by 235,000 versus consensus expectations for a gain of around 750,000. However, previous months’ gains were revised higher, and the unemployment rate fell to a new pandemic-era low of 5.2%.


9/6/2021 Market Review


August 30, 2021

August 30, 2021

Last week stocks gained as the Food and Drug Administration (FDA) approval of the Pfizer-BioNTech COVID-19 vaccine supported sentiment toward an ongoing economic recovery.


8/30/2021 Market Review

August 23, 2021

August 23, 2021

Worries that growth might be peaking also seemed to hamper sentiment. Stocks fell on Tuesday after the Commerce Department reported that retail sales slumped 1.1% in July, although off an upwardly revised June base. .


8/23/2021 Market Review



August 16, 2021

August 16, 2021

In a somewhat light week for US economic data releases, all eyes were on the latest inflation numbers from the Bureau of Labor Statistics. The consumer price index (CPI) increased by 0.5% sequentially in July, a deceleration from the 0.9% registered in June and the smallest month-over-month uptick since March.


8/16/2021 Market Review

August 9, 2021

August 9, 2021

Intermediate-and long-term Treasury yields jumped Friday morning following news of stronger-than-expected employment growth in July. (Bond prices and yields move in opposite directions.)


8/9/2021 Market Review

August 2, 2021

August 2, 2021

Weekly jobless claims fell less than expected, and continuing claims rose a bit. On the positive side, July consumer confidence surprised to the upside, and inflation expectations eased slightly. Personal spending rose more than expected in June (1.0%), rebounding from a slight contraction in May.


8/2/2021 Market Review

July 26, 2021

July 26, 2021

Positive news on the housing sector also helped markets last week. US housing starts increased by more than forecast in June, suggesting residential construction is stabilizing despite lingering supply chain constraints and labor shortages.


7/26/2021 Market Review

July 19, 2021

July 19, 2021

Growth and inflation data appeared to remain in the spotlight during the week. Stocks fell back on Tuesday, following the release of data showing that headline and core (excluding food and energy) consumer prices had jumped 0.9% in June, roughly twice consensus estimates (but the Fed is telling us not to worry).


7/19/2021 Market Review

July 12, 2021

July 12, 2021

The week's economic data generally indicated strong growth but surprised modestly on the downside, which may have helped push both equities and Treasury yields lower. 


7/12/2021 Market Review