Economic Update 2-1-2021
- Economic data for the week included no action by the Federal Reserve, a 4thquarter GDP report that came in largely in line with expectations, continued strength in the housing market, and jobless claims that came in a bit better.
- Global equity markets experienced their worst week in a few months, with ongoing fears of economic slowing due to continued virus cases, in addition to some unique trading in certain U.S. stocks that raised volumes. Bonds were little changed despite that weakness in risk assets. Commodities were slightly higher due to tighter agricultural inventories.