Week in Review 7/24/2020

Equity markets end the week in sell off on poor economic data.

In the US, initial jobless claims rose for the first time since the start of April, perhaps reflecting a resurgence of caution following poor re-openings in several states.

10-year Treasury rates have hit record weekly lows, and short term yields are so low that asset managers are getting creative with fees to avoid negative returns.

US real estate loans dip back down on the week.

In terms of Fed assets, we a see a slight gain in total assets held as the Fed increases purchases on the long end of yields and in MBS markets to lower costs of borrowing in the economy. Foreign assets continue to rocket up. Treasury yield curve seems to reflect Fed intervention.

Assets in the EU CB increase as well from stimulus policy agreements.

In commodities, oil pricing above 40 Dollars a barrel since the start of July now, and Metals hit new 2020 high, perhaps reflecting growth in precious metal assets like gold.

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