January 2009 - Fed and Economy Watch

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GDP Surprises on Upside With 3.8% Contraction

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January 30 2009, 8:33 AM

The advance U.S. GDP report came in better than expected for the fourth quarter of 2008, contracting by 3.8% against expectations of a 5.5% decline, according to the Bureau of Economic Analysis on Friday. The previous quarter's 0.5% contraction was

Filed under: gdp

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Growing Protectionist Rhetoric Hurting Appetite for U.S. Debt

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January 29 2009, 5:05 PM

Long-dated U.S. Treasuries sold off for the eighth time in nine sessions on Thursday following a weak auction and rising fears of protectionism . The decline comes after the U.S. sold a record $30 billion in five-year notes at a higher yield than forecast

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The Day Ahead: North American GDP Reports

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January 29 2009, 4:25 PM

According to strategists, markets are extremely pessimistic ahead of Friday's U.S. Q4 GDP report . The consensus is looking for economic growth to show an annualized decline of 5.5%, but markets could receive an even more dire report. Brian Dolan

Filed under: gdp

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Kansas City Fed Manufacturing Index Moves Lower in January

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January 29 2009, 11:03 AM

Manufacturing activity in the Kansas City Federal Reserve district continued to struggle in January, with a another decline in the central bank's manufacturing index for the region. In January, all components remained below 0, indicating contraction

Filed under: fed manufacturing

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Jobless Claims Signal Mass Firings in Economy

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January 29 2009, 9:59 AM

More people in the United States are receiving unemployment benefits than at any other time since records began in 1967 , a weekly employment survey revealed Thursday. Claims for unemployment insurance continued soaring in the week ending Jan. 24, as

Filed under: jobless claims, unemployment

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FOMC More Optimistic About Economic Recovery in January Statement

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January 28 2009, 2:40 PM

The Federal Open Market Committee showed some optimism in its latest statement accompanying its January rate decision, highlighted by the fact it expects a gradual recovery in the U.S. economy by year end. "The Committee anticipates that a gradual

Filed under: fomc minutes

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IMF Sees $2.2 Trillion in Loss on Toxic Assets

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January 28 2009, 9:17 AM

On the back of a $2.2 trillion loss on toxic U.S. assets worldwide , the global economy is expected to contract in 2009 before recovering the following year, according to a report from the International Monetary Fund (IMF) on Wednesday. "Unless stronger

Filed under: imf, toxic assets, global economy

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FOMC Voter Preview: Voter Lineup More Dovish in 2009

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January 28 2009, 8:54 AM

Only four of the 2008 voting members from the Federal Reserve's monetary policy board will vote in the first meeting of 2009. The lineup has lost some of its chief inflation-fighters and added some more dovish members. Dovish voters on the Federal

Filed under: inflation, fomc

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Record $40 Billion U.S. Two-Year Note Auction Draws High Yield of 0.925%

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January 27 2009, 1:05 PM

An auction of a record $40 billion in two-year Treasury notes drew a yield of 0.925% allotted to 33.41% of bidders. The high yield was below the 'when issued' yield of 0.930% prior to the announcement. The median discount rate was 0.871% and the

Filed under: treasury notes

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Bill Dudley to Replace Geithner as NY Fed President

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January 27 2009, 9:04 AM

William C. Dudley , who heads the markets desk at the Federal Reserve Bank of New York, will become President of the New York Federal Reserve, according to Bloomberg TV. Dudley, who also manages the System Open Market Account for the Federal Open Market

Filed under: bill dudley, new york fed

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More Disappointment in U.S. Weekly Retail Sales

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January 27 2009, 9:17 AM

Consumers are shying away from retail stores in the New Year as two weekly surveys for the week ending Jan. 24 show shoppers continue to spend less compared to the prior week, month, and year. The ICSC-Goldman Sachs survey reported that sales were down

Filed under: retail sales

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Consumer Confidence Sinks in January

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January 27 2009, 10:07 AM

Consumer confidence in the United States was worse than expected in January, according to a survey from the Conference Board released Tuesday. The U.S. Conference Board's consumer confidence index fell to a new all-time low of 37.7 in January, following

Filed under: consumer confidence

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The Day Ahead: Consumer Confidence; Canadian Budget

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January 26 2009, 7:04 PM

The key event scheduled for release on Tuesday is consumer confidence , which is expected to remain at a depressed level. Meanwhile, in Canada, attention will be focused on the federal government's long anticipated annual budget. Economists are expecting

Filed under: consumer confidence

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Fed's Monetary Policy Board Considering Inflation Target

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January 26 2009, 2:28 PM

In an era when deflation concerns are just as valid as hyper inflation worries , Federal Reserve officials have been discussing whether the central bank should adopt an inflation target to anchor price expectations. Many analysts believe it will be a

Filed under: inflation, deflation

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Leading Indicators Post Surprise Gain in December

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January 26 2009, 10:09 AM

The index of U.S. leading indicators rose above expectations in December, posting a 0.3% month-over-month gain, according to the Conference Board. The consensus had forecast a 0.2% month-over-month decline. November's level was unrevised at -0.4%

Filed under: leading indicators

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30 Yr FRM	4.83%	-0.08%
15 Yr FRM	4.32%	-0.04%
1 Yr ARM	4.35%	-0.11%
5/1 Yr ARM	4.25%	-0.04%
30 YR Tres	4.30%	0.01%
Fed Prime	3.25%	0.00%
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January 2009 - Fed and Economy Watch

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