Economic Commentary

Chief Economist Scott Brown discusses the latest market data. Market Commentary by Scott J. Brown, Ph.D., Chief Economist The economic data reports were second-tier, leaving market participants to focus on earnings and President Biden’s tax proposal. New home sales rebounded 20.7%, from weather-related weakness in March, to a 1.021 million seasonally adjusted annual rate. Existing […]

Chief Economist Scott Brown discusses current economic conditions. The advance estimate of 1Q21 GDP growth is expected to show negative contributions from net exports and the change in inventories. Private Domestic Final Purchases (consumer spending, business fixed, investment, residential fixed investment), a better measure of underlying domestic demand, should be a lot stronger. All else […]

Chief Economist Scott Brown discusses the latest market data. The economic data reports were on the strong side of expectations, boosting the major stock market averages. Bond yields fell, presumably due to expectations of increased demand from Japan and short-covering (with many having positioned for higher yields). The Fed’s Beige Book noted that “national economic […]

Chief Economist Scott Brown discusses current economic conditions. The Bureau of Economic Analysis will report the advance estimate of 1Q21 GDP growth on April 28, the day after the Federal Open Market Committee meeting. There’s always a lot of uncertainty heading into the initial GDP estimate. We don’t have all the pieces of the puzzle. […]