Economic Overview: After defying recession fears this year, the US economy is forecast by Goldman Sachs Research to beat consensus expectations in 2024. US GDP is projected to expand 2.1% in 2024 on a full-year basis, Goldman reaffirmed its longstanding view that the probability of a US recession is at just 15% over the next […]
Economic Overview: A broad slowdown in inflation continued in October, this may end likely the Federal Reserve’s interest-rate increases. This according to the Wall Street Journal. Consumer prices overall were flat last month and rose 3.2% from a year earlier, a slower pace than in September as prices for gasoline fell, the Labor Department reported. […]
Economic Overview: War threats increasing as Israel fights off Hamas and Ukraine defends Russian Invasions. Nonfarm payrolls increased by 336k for the month, better than the Dow Jones consensus estimate of 170k.. The unemployment rate is 3.8%, compared to the forecast for 3.7%, Leisure and hospitality led job growth, followed by government and health care. […]
Economic Overview: Treasury yields have declined this week after August CPI inflation mostly met expectations, supporting forecasts that the Fed will keep rates unchanged this month with chances of a hike in November. The increase was mostly attributable to a spike in gasoline prices in August, that increase should be temporary, economists said. This is […]
Economic Overview: As of August 2023 YTD, the economy continued to grow, although the pace has clearly slowed. Still, real GDP growth is positive; changes in nonfarm payrolls remain above trend rates; unemployment rates remain near the lowest levels since the 1960s; and consumers are becoming a bit more optimistic. As per Goldman Sachs. The […]
Waterstone Defeasance recently closed a defeasance transaction for a $3.9 million CMBS loan, secured by a retail property in Richmond, VA. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their property. “Retail properties continue to trade during these challenging times, location, location, location. Owners continue to reposition retail properties […]
Economic Overview: US annual inflation slowed to 3% last month, according to the latest Consumer Price Index released Wednesday (July 12th) by the Bureau of Labor Statistics, that is a sharp cooldown from June of last year, when surging energy costs helped inflation spike to 9.1% Inflation, as measured by the CPI, has now eased […]
Economic Overview: The Federal Reserve held rates steady in June, keeping the benchmark funds rate at a range of 5% to 5.25%. Fed Chairman Jerome Powell said he doesn’t see a rate cut until inflation comes down meaningfully and significantly, and that can take a couple of years. Over the past several weeks markets have […]
Economic Overview: The US economy has performed better than expected through the first part of the year, with 1Q GDP growth up an estimated 3.25%. This has largely been driven by consumer spending – which drives nearly two thirds of economic activity – amid a backdrop of rising wages, moderating inflation and $1.2 trillion of […]
Economic Overview: Markets are assessing the timing and odds of recession and are increasingly optimistic that a soft-landing scenario is plausible based on surprisingly strong domestic data, China re-opening, and Euro-zone resilience. Soft-landing, hard-landing, or no-landing—remains to be seen, but the latest wave of domestic data suggests the Fed has more work to do to […]