Daily Market Update 1/29/16

Rates inched lower Friday after the Bank of Japan announced a reduction in its benchmark interest rate into negative territory for the first time ever.  The surprise move lifted global stock and bond markets.  In the U.S., preliminary fourth quarter GDP estimates showed a meager 0.7% growth, slightly below forecast, and down from 2.0% in the third quarter.  Separately, the Chicago Purchasing Managers Index jumped to 55.6, well above expectations.  Readings above 50.0 indicate expansion in the manufacturing sector in the Midwest Region.  Consumer Sentiment fell to 92.0, a bit lower than expected.  No other key data will be released today.

Back to top