Weekly Market Snapshot – September 16, 2019
Created by: Sam Tenney
- Retail Sales for August grew 0.4%, for 4.1% growth year-over-year. The rise was driven largely by auto sector sales.¹
- The European Central Bank (ECB) Met on August 12th. The European Union (EU) benchmark interest rate was lowered to -0.5%, and the bank outlined plans to restart its easing program by buying 20 billion in bonds monthly.²
- The Ford Corporation was downgraded to a junk credit rating with its $35 Billion of corporate bonds on Tuesday, August 10th. This could mean extra pressures in the high-yield bond markets pushing yields higher.³
- Attacks on the Saudi Armaco Oil production facility caused a nearly 10% spike in oil prices on Monday, August 16th. One concern is higher oil prices could cause higher fuel prices and slow economic growth.⁴
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