Weekly Economic Report
In May, the average price of a newly constructed home surged past $400,000 for the first time. Sales were also stronger than expected at 610,000 units at an annual rate with upward revisions to previous data. Both figures suggest that housing construction will still be supportive to the expansion – but both should be taken with a bit of salt. read more »
Weekly Economic Report
The Federal Reserve stayed more aggressive than the Street or other central banks as it raised rates for the third time in six months lifting overnight interest rates to between 1% and 1.25%. They also revealed preliminary plans for reducing their balance sheet, which when it starts will be at $10 billion a month, but could rise to $50 billion read more »
Weekly Economic Report
Politics were once again more interesting than economics or markets this week. In the US, ex FBI director Comey’s testimony came and went without significantly changing the landscape. We anticipate that the Republican Congress will continue working quietly behind the scenes to develop regulatory and tax reform, but neither will impact the economy before mid-2018 at the earliest. read more »
Weekly Economic Report
The unemployment rate fell to 4.3% and yet there is no sign of accelerating wage inflation in the US. The latest US data tell us that private sector employment is as high as a share of the labor force as it ever has been. Meanwhile, over the past several months the labor force has been growing in line with population and the participation rate has stopped falling. read more »
Top 50 Brokers of 2013
McVean Trading & Investments was a part of Futures magazine's annual Top 50 Brokers list. read more »
For markets and his city, commodities trader Charles McVean looks ahead
Charles McVean is featured in the Commercial Appeal. read more »