Economic Review 12 October 2026
Economic data included services PMI falling a bit, but remaining solidly in expansion. Consumer sentiment remained weak, particularly due to sensitivity to high inflation.
Equities were mixed, with U.S. stocks higher while international stocks fell back. Bonds saw a better week as Treasury yields stabilized across the yield curve. Commodities were higher in energy and metals.
Economic Review 5 October 2026
Economic data included both Q1 and Q2 U.S. GDP growth data being revised upward. Personal income and spending rose, at a pace faster than inflation. Manufacturing survey data pulled back a bit, but remained solidly expansionary, as was construction spending. Home price appreciation continued to flatten, while the employment situation report showed weaker job growth than expected.
Stocks were mixed around the world, with little new geopolitical news, but continued rising interest rates weighing on sentiment. Bonds were down, along with those same yield changes. Commodities fell back, with little Middle East news, and some relief in various supply concerns.
Economic Review 28 September 2026
Economic data included gains in S&P manufacturing and services PMI, further into expansion, and a rise in new home sales, while durable goods orders and jobless claims remained stable.
Equities gained around the world last week generally, with technology optimism outweighing concerns about inflation and the resulting higher yields. Bonds fared negatively due to those influences of higher rates. Commodity prices were pulled down by energy and precious metals, as hope for a Middle East solution rose.
Economic Review 21 September 2026
Last week’s news was highlighted by the U.S. Federal Reserve hiking interest rates a bit, for the first time in three years. Other data included positive results for retail sales and jobless claims, flattish industrial production, and declines in housing starts.
Stocks were mixed, but mostly down for the week, with higher yields and energy prices weighing on sentiment. Bonds were also mixed, as several central banks hiked short-term rates. Commodities saw gains in metals, while energy prices were stable.
Fed Note 16 September 2026
At the September meeting, the U.S. Federal Reserve Open Market Committee voted to raise the Fed funds rate by 0.25% to 3.75-4.00%, the first hike in three years. There were no dissents.
Costly Medicine by Claudia Sahm 14 September
The Fed is likely to raise rates on Wednesday. Here’s what a hike can do, what it can’t, and why the explanation matters as much as the decision.
Economic Review 14 September 2026
On a shortened Labor Day week, economic data included continued rises in both consumer and producer price inflation, driven by August’s spikes in fuel prices. Existing home sales declined, as did consumer sentiment.
Equities fell across the board globally last week, due to geopolitical tensions, resulting inflation, and higher yields. Bonds pulled back to the same spike in interest rates. Commodities were mixed, with another sharp rise in oil prices, and weakness elsewhere.
Economic Review 8 September 2026
Economic data included the employment situation report showing stronger payroll growth than expected, as well as gains in job openings and ISM services, which offset a decline in ISM manufacturing.
Equities were flattish on the week in the U.S., coupled with mixed results in foreign markets. Bonds were down for the most part, as yields rose for a variety of reasons. Commodities gained, along with another spike in the price of crude oil.
Economic Review 31 August 2026
Economic data included U.S. GDP seeing minimal revision, but still a slower pace than Q1, gains in personal income and spending, as well as durable goods. On the other hand, new home sales continued to come in weak, while several home price indexes showed minor gains, now below the pace of inflation. Consumer sentiment also remained negative, due to inflation concerns.
Equities were mixed, with gains in the U.S. and tech-related emerging markets, and flattish elsewhere. Bonds were also flattish as interest rates calmed. Commodities were mixed, with gains in grains, and declines in the prices of energy and precious metals.
Economic Review 24 August 2026
Economic data included mixed results for PMI data, with manufacturing down and services up, gains in industrial production, and a decline in housing starts.
Equities lost ground globally last week, with the continued Middle East conflict and some volatility in government interest rates. As yields rose, bonds were mixed, with foreign bonds helped by a weaker dollar. Commodities saw gains, including another rise in energy, along with the ongoing U.S.-Iran tensions.