Weekly Market Snapshot – July 29, 2019
Created by: Sam Tenney
- China faces slowing growth as trade falls for the month with exports down -1.7% and imports down -7.3% for June. China’s Gross Domestic Product growth slowed to 6.2% year-over-year, the lowest growth in 30 years.¹
- Investors are taking more money out of stock mutual funds ahead of the Federal Reserve meeting reaching 8.4 billion while money market account inflows reached 26 billion. This is the fifth consecutive week of money market inflows.²
- The 3-month and 10-year treasuries closed the yield spread, as of 7/26/19 10-year treasuries yielded 2.08% and 3-month yields are 2.06%. The 2-year spread is still inverted at 1.83% yield.²
- Mortgage rates press into 3-year lows of 30-year fixed rates at 3.75%. This coincides with a slowing growth in single family home sales.³
- European Central Bank (ECB) meeting this week included plans to raise the government holdings ceiling and lower interest rates. The ECB is expecting to purchase more assets by September with the raised asset ceiling in effect, commonly reffered to as quantitative easing .³
1. https://am.jpmorgan.com/us/en/asset-management/gim/adv/insights/weekly-m…, July 26, 2019.
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