By Staff Reporters
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According to Charles Schwab, we’re heading into a bit of a data vacuum as the end of August approaches. While final August University of Michigan Consumer Sentiment and July Existing Home Sales and New Home Sales line up on next week’s calendar, the burst of numbers fades a bit and no really essential data like Personal Consumption Expenditure (PCE) prices and Gross Domestic Product (GDP) are due out until the week of August 28.
The absence of notable data next week could give the market a breather from the recent host of numbers suggesting the economy continues to grow faster than many economists had expected despite 17 months of Fed rate hikes.
Chances are growing that we could face another rate increase in November, the futures market suggests, and investors are dialing back the probability of rate cuts next year. The solid data was one factor helping push Treasury yields to 15-year highs late this week.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Events-Planner, Funding Basics, Investing, Research & Development | Tagged: Charles Schwab, Existing Home Sales, fed, GDP, Gross Domestic Product, inflation, Michigan Consumer Sentiment, PCE, Personal Consumption, Rate Hikes |
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