Clarksville Weekly Market Snapshot from Frazier Allen for the week of July 19th, 2016
July 19, 2016
Clarksville, TN – The economic data were generally on the strong side of expectations. Retail sales rose 0.6% in June (median forecast: +0.2%), but figures for April and May were revised down (still a strong quarter).
Industrial production rose 0.6%, but that largely reflected a rebound in auto output (which had fallen in May). Ex-autos, manufacturing output was flat (-0.2% y/y, consistent with a soft patch, not a recession).
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of July 10th, 2016
July 10, 2016
Clarksville, TN – The economic data were mostly on the strong side of expectations. Nonfarm payrolls surprised sharply to the upside in June (+287,000), but that followed a very soft payroll figure for May (revised to +11,000).
The disappointing May number is now seen as an anomaly, but then so was the June figure. Large month-to-month swings in payrolls are unusual, but they do happen occasionally.
The three-month average payroll gain was +147,000, slower than in 1Q16 (+196,000) and 2015 (+221,000).
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of July 6th, 2016
July 6, 2016
Clarksville, TN – Despite there being no plan for Brexit and expectations of a lengthy and uncertain process of disentanglement from the European Union, stock market fear subsided.
The impact on the U.S. economy of a weaker U.K. is expected to be small, and in some ways may even be positive (lower mortgage rates and greater capital flows to the U.S.). Long-term interest rates remain low.
Bank of England Governor Carney helped things along by suggesting that a rate cut would likely be warranted this summer (the BoE’s Monetary Policy Committee will meet on July 14th).
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of July 3rd, 2016
July 3, 2016
Clarksville, TN – U.S. financial markets spent most of the week pricing in a greater likelihood that the United Kingdom would vote to remain in the European Union.
Oops. The surprise “leave” victory in the U.K. referendum sent markets reeling. Global stock markets fell sharply. The pound plunged (to a 30-year low). Bond yields sank, reflecting a flight to safety.
Still, this wasn’t a Lehman-type event. Market participants were simply caught leaning the wrong way. Prime Minister Cameron resigned, effective October, leaving his predecessor a lengthy negotiation with the EU on exit terms.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of June 19th, 2016
June 19, 2016
Clarksville, TN – The Federal Open Market Committee left short-term interest rates unchanged, as expected.
In its policy statement, the FOMC noted that “the pace of improvement in the labor market has slowed while growth in economic activity appears to have picked up.” At the same time, “growth in household spending has strengthened” and “the drag from net exports appears to have lessened.”
The dots in the dot plot drifted a bit lower (that is, expectations of future rate increases become even more gradual).
Frazier Allen
Austin Peay State University sociology department sending students to top graduate programs
April 29, 2016
Clarksville, TN – In August, Sarah Huff, a former high school dropout, will board a plane for the United Kingdom to begin graduate school at The London School of Economics and Political Science—a university recently labeled “the world’s leading dedicated social science institution.”
“I’ll admit I was a bit hesitant to apply because I don’t have a lot of the background that people have when they go to these bigger schools,” Huff said recently.
Austin Peay State University McCord Building. (APSU)
Clarksville County Arts and Heritage Development Council to hold Exhibition, Reception for 2Rivers Plein Air Paint-Off
October 10, 2015
Clarksville, TN – This Friday and Saturday, October 16th and 17th, artists from around Middle Tennessee and southern Kentucky will arrive in Clarksville to paint the city in the 2Rivers Plein Air Paint-out.
Clarksvillians are invited to a reception and exhibition of work produced through the weekend at the L & N Train Station, on Saturday October 17th, from 6:30pm to 8:30pm. They may also purchase fresh, original work featuring scenes of their favorite Clarksville landscapes, painted en plein air.
Clarksville plein air watercolorist Eunice Kern found a way to stay dry during last year’s 2Rivers Paint-Out competition as she painted a scene at Smith Trahern Mansion. Organizers expect better, brighter weather next weekend.
Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 6th, 2015
September 6, 2015
Clarksville, TN – The economic data were mixed, but generally consistent with moderately strong growth. Unit auto sales improved in August. The ISM Manufacturing Index slowed. The Non-Manufacturing Index pulled back a bit after surging in July (still strong). The Fed’s Beige Book described growth as evenly split between “modest” and “moderate” across the 12 Fed districts.
The August employment report was mixed, but generally strong. Nonfarm payrolls rose by 173,000 (median forecast: +220,000), but with a net revision of +44,000 to June and July.
Frazier Allen
Interpreting Wall Street’s wild swings benefits from perspective
August 26, 2015
Clarksville, TN – The stock market sell-off continued Monday, as the Dow Jones Industrial Average and other major domestic indices saw a significant drop in early morning trading, regained some ground as the day progressed, but still closed down 3% to 4% for the day.
Global markets were also down, notably in China, Hong Kong, Germany and the United Kingdom. The pullback appears to be driven by concern over slowing global growth, particularly as China’s economy (one of the world’s largest) falters, as well as the drop in commodity prices, namely oil.
Frazier Allen
Clarksville Civil War Roundtable’s next meeting is August 19th, 2015
August 17, 2015
Our 137th meeting.
Clarksville, TN – The next meeting of the Clarksville (TN) Civil War Roundtable will be on Wednesday, August 19th, 2015 at the Bone & Joint Center, 980 Professional Park Drive, right across the street from Gateway Medical Center. This is just off Dunlop Lane and Holiday Drive and only a few minutes east of Governor’s Square mall.
The meeting begins at 7:00pm and is always open to the public. Members please bring a friend or two – new recruits are always welcomed.
Topic: “Why Europe Didn’t Intervene in the Civil War”
“Why Europe Didn’t Intervene in the Civil War” is the topic for the next Clarksville Civil War Roundtable meeting.
