Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 26th, 2014
October 26, 2014
Clarksville, TN – Mixed, but generally favorable, earnings reports and an ebbing in Ebola fears helped propel the major stock market indices higher.
The economic data were largely irrelevant. The Consumer Price Index continued to show a low trend in inflation (+1.7% y/y for both the headline index and the core). Home sales figures were mixed. The Index of Leading Economic Indicators rose 0.8% suggesting little chance of a recession anytime soon
Next week, the earnings calendar is brisk with about a third of the companies in the S&P 500 reporting. There are two key items on the economic calendar: the Fed policy meeting and the advance estimate of 3Q14 GDP growth.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 19th, 2014
October 19, 2014
Clarksville, TN – What a week. Concerns about the downside risks to Europe and the rest of the world pushed global equity markets down and the U.S. followed. The economic data mattered little for the most part, but disappointing retail sales figures added to the drop in U.S. stocks on Wednesday.
Yields on long-term Treasuries sank sharply. Following a few days of elevated volatility, the financial markets appeared to settle down on Friday.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 7th, 2014
October 7, 2014
Clarksville, TN – There were plenty of economic data reports, but the financial markets mostly obsessed about other things (quarter–end positioning, soft global growth, geopolitical tensions, Ebola). The headline figures from the employment report were better than expected, a positive for stocks and a negative for bonds.
Nonfarm payrolls rose by 248,000 in September, while the two previous months were revised a net 69,000 higher. Some of the strength reflected a rebound from special factors that had reduced the August total.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 28th, 2014
September 28, 2014
Clarksville, TN – The economic data were mixed. The estimate of second quarter gross domestic product (GDP) growth was revised upward from 4.2% to 4.6%, as expected.
Existing home sales fell in August, reflecting a decline in speculators (i.e., fewer all-cash transactions). New home sales surged 18.9%, but that likely reflects the usual volatility in the data.
Durable goods orders fell 18%, reflecting an unwinding of July’s sharp spike in civilian aircraft orders. The three-month averages of shipments and orders for nondefense capital goods (ex-aircraft) suggest good strength in business fixed investments.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 21st, 2014
September 21, 2014
Clarksville, TN – Fed policymakers reduced the monthly pace of asset purchases (QE3) by another $10 billion, to $15 billion, on track to finish buying at the end of October. The Fed repeated that “it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends.”
Fed officials’ projections of the appropriate year-end federal funds target rate indicated that most expect to begin raising short-term interest rates sometime in 2015, but there was a wide range in the individual forecasts (and implicitly, in their expectations of when rates will start to rise – with most spread roughly evenly between March and September).
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 14th, 2014
September 14, 2014
Clarksville, TN – The economic data calendar was thin. Retail sales rose as expected in August. However, the figures for June and July were revised higher.
While the pace of consumer spending growth does not appear to be especially strong into 3Q14, it’s not terrible weak either (and certainly not as bad as the data suggested a month ago). Financial market participants didn’t seem to care much about the retail sales data.
Global anxieties receded a bit as the “no” vote for Scottish independence regained an upper hand in the polls. The markets didn’t react much to President Obama’s call for military action in the Middle East.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of August 27th, 2014
August 27, 2014
Clarksville, TN – Market participants had expected Fed Chair Janet Yellen to adopt a decidedly “dovish” tone in her Jackson Hole speech.
However, Yellen presented a balanced assessment of the evidence and theories of labor market slack. While Yellen still sees plenty of labor market slack currently, she left the monetary policy outlook as an open question.
She repeated the notion (also included in the FOMC minutes) that the Fed could firm monetary policy sooner if the economy strengthens more than anticipated, but could also tighten more slowly if the economy disappoints.
Frazier Allen
Planters Bank Gallery Hosts Scenes by Kay Lamirande in June
June 4, 2014
Clarksville, TN – Clarksville Artist Kay Limirande will show an exhibit of landscapes and nature scenes at the Planters Bank-Hilldale Gallery on Thursday, June 5th – Wednesday, July 2nd.
Lamirande’s exhibit includes scenes from France, Japan, and Colorado, along with a variety of beach scenes in oil, acrylic, watercolor, and drawings.
Kay Limirande holding one of her paintings in Planters Bank.
2013 Clarksville-Montgomery County Veterans Day Parade
November 10, 2013
Clarksville, TN – Clarksville-Montgomery County gathered together in front of the Montgomery County Courthouse yesterday to honor our veterans, as well as those who are still serving their country.
Military service is one of the highest forms of patriotism and with our close proximity to the Fort Campbell Army post Clarksville-Montgomery County is home to a significant veteran population. They are part of the fabric of our community.
Honoring our Veterans
Austin Peay State University Professor Dr. David Rands looks to combine History and Business
September 17, 2013
Clarksville, TN – For years, Dr. David Rands, Austin Peay State University assistant professor of history, has studied why certain people are attracted to certain cities. Specifically, he examined why Korean immigrants to Japan choose to live in either Osaka or Tokyo.
“I came up with this idea called ‘function-based spatiality’ – kind of a term I coined – where the city has several different functions within the local, regional, national and international spheres, and those functions act to either attract or repeal specific kinds of immigrants,” he said.
APSU’s Dr. David Rands
