Market Commentary

This week’s economic data painted a mixed picture of the U.S. economy, with housing and consumer confidence showing signs of resilience, while spending and manufacturing data were more subdued. Inflation remained elevated, keeping monetary policy at the center of investor attention.

Last week’s economic data generally pointed to a resilient economy entering the fourth quarter. Business activity and labor market conditions remained supportive of growth, although housing activity remained weak and persistent price pressures continued to be a concern.

Inflation came in below expectations and Q2 U.S. gross domestic product (GDP) growth exceeded forecasts, while labor data pointed to slower hiring. Together, the releases showed continued economic expansion alongside moderating labor demand and inflation above the Federal Reserve’s target.

Economic data last week continued to show a resilient U.S. economy, although the primary focus was the Federal Reserve’s September policy meeting and the inflation outlook. Treasury yields remained elevated throughout the week, with the 10-year Treasury finishing near 5.0% and the 30-year ending around 5.34%, as investors digested the Federal Reserve’s 25-basis-point rate increase and updated economic projections.

The economic data last week continued to show a U.S. economy that remains resilient, but with inflation pressures moving back into focus ahead of the September Federal Open Market Committee (FOMC) meeting. Treasury yields moved sharply higher over the week, with the 10-year finishing around 4.97%, up from roughly 4.78% the prior Friday, while the 30-year ended near 5.38%, reaching its highest level in nearly two decades.

The week’s economic data suggested the economy continues to grow at a moderate pace, while labor market conditions remained resilient and Federal Reserve policymakers maintained a cautious stance on inflation.

The week’s economic data pointed to a gradually cooling economy, with inflation continuing to moderate while consumer and housing activity showed signs of softness.

The week of August 3 was highlighted by a mixed set of economic releases that reinforced two key themes: business activity remained in expansion territory, while labor market indicators softened.

This week’s economic data continued to offer conflicting signals on growth, inflation, and labor market conditions. While some reports pointed toward moderation, others suggested areas of resilience, leaving the broader economic picture difficult to characterize.

Economic data released during the week pointed to continued economic expansion, supported by a resilient labor market and improving business activity, though inflationary pressures and housing affordability challenges remained important areas of focus.