January 2014 Flash Report

US GDP grew by 3.2% in the 4th quarter, slower than last quarter’s 4.1% yet very strong compared to 1.9% for all of 2013. Responding to the economic upswing, and facing reduced supplies of new securities, the Federal Reserve reduced monthly bond purchases by another $10B. Treasuries benefitted from this news while EM currencies further weakened. Looking ahead, Congress will confront the nation’s debt limit once more in early February as taxpayers see our representatives’ struggle with the meaning and purpose of limits.

Download the flash report (PDF) here »

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