Morning Market Update: September 20, 2019


Yields End Lower as Equities Remain Mixed        

Commentary for Thursday: Treasury yields rallied slightly, as equities were mixed. Yields fell in choppy overnight trading after the Swiss National Bank announced they would maintain rates at -0.75%. Positive economic data was released in the morning, which sent yields higher. They remained choppy in the afternoon, and ended the day slightly below the prior close.

This Morning: Treasury yields remain mixed ahead of economic data to be released on household net worth. 
Philadelphia Fed Business Outlook fell almost 5 points to 12 in September, but beat consensus estimates by 1.5. The indices for general activity and new orders fell, while the indices for shipments and employment increased. The price index increased notably this month. The future general activity continues to suggest growth over the next six months.

Initial Jobless Claims increased by 4K to 208K in the week ending September 14. The previous week was upwardly revised by 2K to 206K. As a result, the 4-week moving average decreased by 0.75K to 212.25K.

Existing Home Sales rose by a more-than-expected 1.3% in August to an annual rate of 5.49M. As a result, sales are up 2.6% from one year ago. Three of the four major regions reported a rise in sales, while the West recorded a decline last month.

Financial Markets Research


The morning market update is provided by: 

solutionsheadshots_hotchkiss_smJames Hotchkiss
Director, Member Strategy and Solutions

SolutionsHeadshots_Deven_smMelissa Deven
Director, Member Strategy and Solutions


The data and valuations provided in this document are for information purposes only and are provided as an accommodation and without charge. The Federal Home Loan Bank of Chicago makes no representations or warranties about the accuracy or suitability of any information in this document. This document is not intended to constitute legal, investment, or financial advice or the rendering of legal, consulting, or other professional services of any kind.

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