{"id":22276,"date":"2016-04-03T12:00:47","date_gmt":"2016-04-03T17:00:47","guid":{"rendered":"http:\/\/www.discoverclarksville.com\/articles\/?p=22276"},"modified":"2016-04-03T04:51:04","modified_gmt":"2016-04-03T09:51:04","slug":"clarksville-weekly-market-snapshot-from-frazier-allen-for-the-week-of-april-3rd-2016","status":"publish","type":"post","link":"https:\/\/www.discoverclarksville.com\/articles\/2016\/04\/03\/clarksville-weekly-market-snapshot-from-frazier-allen-for-the-week-of-april-3rd-2016\/","title":{"rendered":"Clarksville Weekly Market Snapshot from Frazier Allen for the week of April 3rd, 2016"},"content":{"rendered":"

\"F&MClarksville, TN<\/strong> – In her speech, Fed Chair Yellen indicated that “given the risks, I consider it appropriate for the [FOMC] to proceed cautiously in adjusting policy.”<\/em> This dovish stance was taken well by financial market participants.<\/p>\n

Yellen emphasized that the Fed\u2019s projections (such as the dots in the dot plot) are expectations and “not a plan written in stone.”<\/em> Fed policy decisions will remain data-dependent, but Yellen stressed that the central bank has a limited ability to respond to downside shocks to the economy.<\/p>\n

\"Frazier<\/a>

Frazier Allen<\/p><\/div>\n

The economic data were mixed. Personal income and spending figures were soft in February, but the downward revision to January\u2019s spending (from +0.5% to +0.1%), along with the previous week\u2019s report on factory shipments, sent economists to revise lower their forecasts of 1Q16 GDP growth (now seen at a 0.5% to 1.0% annual rate, although there are several missing pieces still).<\/p>\n

The employment report was roughly in line with expectations (nonfarm payrolls up by 215,000). The ISM manufacturing report was stronger than expected (but still not exactly “strong”). The Fed\u2019s annual benchmark revisions to its industrial production figures showed a much slower pace of growth in manufacturing output in 2014-15 than was previously reported – however, the markets paid little attention to the news.<\/p>\n

Next week, the economic calendar is relatively light. Investors are expected to focus on the ISM non-manufacturing report and the FOMC minutes. We know that officials are divided in their outlooks for the economy and the appropriate path of short-term interest rates. What\u2019s more interesting is the range of views on uncertainty and the balance of risks (most likely, there will be nothing to suggest that the Fed is in any hurry to raise rates).<\/p>\n

\n

Indices<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\nLast Week<\/strong><\/td>\nYTD return %<\/strong><\/td>\n<\/tr>\n
DJIA<\/td>\n17685.09<\/td>\n17502.59<\/td>\n1.49%<\/td>\n<\/tr>\n
NASDAQ<\/td>\n4869.85<\/td>\n4768.86<\/td>\n-2.75%<\/td>\n<\/tr>\n
S&P 500<\/td>\n2059.74<\/td>\n2036.71<\/td>\n0.77%<\/td>\n<\/tr>\n
MSCI EAFE<\/td>\n1652.04<\/td>\n1642.18<\/td>\n-3.74%<\/td>\n<\/tr>\n
Russell 2000<\/td>\n1114.03<\/td>\n1075.70<\/td>\n-1.92%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Consumer Money Rates<\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 year ago<\/strong><\/td>\n<\/tr>\n
Prime Rate<\/td>\n3.50<\/td>\n3.25<\/td>\n<\/tr>\n
Fed Funds<\/td>\n0.27<\/td>\n0.12<\/td>\n<\/tr>\n
30-year mortgage<\/td>\n3.71<\/td>\n3.69<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Currencies<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 year ago<\/strong><\/td>\n<\/tr>\n
Dollars per British Pound<\/td>\n1.436<\/td>\n1.482<\/td>\n<\/tr>\n
Dollars per Euro<\/td>\n1.138<\/td>\n1.073<\/td>\n<\/tr>\n
Japanese Yen per Dollar<\/td>\n112.570<\/td>\n120.130<\/td>\n<\/tr>\n
Canadian Dollars per Dollar<\/td>\n1.300<\/td>\n1.269<\/td>\n<\/tr>\n
Mexican Peso per Dollar<\/td>\n17.279<\/td>\n15.264<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Commodities<\/h3>\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 year ago<\/strong><\/td>\n<\/tr>\n
Crude Oil<\/td>\n38.34<\/td>\n47.60<\/td>\n<\/tr>\n
Gold<\/td>\n1235.60<\/td>\n1183.20<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Bond Rates<\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 month ago<\/strong><\/td>\n<\/tr>\n
2-year treasury<\/td>\n0.72<\/td>\n0.74<\/td>\n<\/tr>\n
10-year treasury<\/td>\n1.77<\/td>\n1.73<\/td>\n<\/tr>\n
10-year municipal (TEY)<\/td>\n2.71<\/td>\n2.65<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Treasury Yield Curve \u2013 04\/01\/2016<\/h3>\n

As of close of business 03\/31\/2016<\/p>\n

\"Treasury<\/a><\/p>\n

Economic Calendar<\/h3>\n\n\n\n\n\n\n
Apr 4th<\/strong><\/td>\n\u2014<\/td>\nFactory Orders (February)<\/td>\n<\/tr>\n
Apr 5th<\/strong><\/td>\n\u2014<\/td>\nTrade Balance (February)
\nISM Non-Manufacturing Index (March)<\/td>\n<\/tr>\n
Apr 6th<\/strong><\/td>\n\u2014<\/td>\nFOMC Minutes (March 15-16)<\/td>\n<\/tr>\n
Apr 7th<\/strong><\/td>\n\u2014<\/td>\nJobless Claims (week ending April 2)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Important Disclosures<\/h3>\n

[320left]Past performance is not a guarantee of future results. There are special risks involved with global investing related to market and currency fluctuations, economic and political instability, and different financial accounting standards. The above material has been obtained from sources considered reliable, but we do not guarantee that it is accurate or complete. There is no assurance that any trends mentioned will continue in the future. While interest on municipal bonds is generally exempt from federal income tax, it may be subject to the federal alternative minimum tax, state or local taxes. In addition, certain municipal bonds (such as Build America Bonds) are issued without a federal tax exemption, which subjects the related interest income to federal income tax. Investing involves risk and investors may incur a profit or a loss.<\/p>\n

US government bonds and treasury bills are guaranteed by the US government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. US government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the US government.<\/p>\n

Commodities trading is generally considered speculative because of the significant potential for investment loss. Markets for commodities are likely to be volatile and there may be sharp price fluctuations even during periods when prices overall are rising. Specific sector investing can be subject to different and greater risks than more diversified investments.<\/p>\n

Tax Equiv Muni yields (TEY) assume a 35% tax rate on triple-A rated, tax-exempt insured revenue bonds.<\/p>\n

\"\"<\/a>Material prepared by Raymond James for use by its financial advisors.<\/p>\n

The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Data source: Bloomberg, as of close of business March 31st, 2016.<\/p>\n

\u00a92016 Raymond James Financial Services, Inc. member FINRA<\/a> \/ SIPC<\/a>.<\/h4>\n","protected":false},"excerpt":{"rendered":"

Clarksville, TN – In her speech, Fed Chair Yellen indicated that “given the risks, I consider it appropriate for the [FOMC] to proceed cautiously in adjusting policy.” This dovish stance was taken well by financial market participants. Yellen emphasized that the Fed\u2019s projections (such as the dots in the dot plot) are expectations and “not […]<\/p>\n","protected":false},"author":23,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[3],"tags":[9645,17795,512,825,17194,9789,3694,10712,24754,17193,17892,10709,20168,20163,17895,25078,27954,21335,17796,17893,17791,9791,23177,3065,17792,9790,9788,9787,18321,9638,25861,8752,3068,26482],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p4xGYI-5Ni","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/22276"}],"collection":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/comments?post=22276"}],"version-history":[{"count":1,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/22276\/revisions"}],"predecessor-version":[{"id":22277,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/22276\/revisions\/22277"}],"wp:attachment":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/media?parent=22276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/categories?post=22276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/tags?post=22276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}