Market Perspective – 2021 Outlook

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2021 Outlook A year ago, we finished our 2020 Market Outlook piece by saying: “Buckle up – it’s going to be an interesting year.” While some may call 2020 “interesting” – in reality, that proved to be a dramatic understatement.  The onset of the COVID-19 virus, now having taken over 1.8 million lives worldwide, ushered in global social distancing...

The Macro View – December 2016

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United States Third quarter U.S. economic growth was revised higher to 3.2% from 2.9%, according to the second estimate. Consumption grew at a better than expected 2.8%, contributing positively to the upward revision. The U.S. labor market continues to tighten, job creation has been solid and the number of people filing for jobless claims are at historic lows. We...

The Markets – December 2016

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Cash Review & Outlook The A1/P1 commercial paper curve steepened throughout the month of November with 1-week paper ending the month flat at 0.42% while 1-month paper increased 5 basis points to 0.60%. Moving into the New Year, we expect bills and short agency debt to richen as bill supply diminishes resulting from the 2015 debt ceiling legislation whereby...