The Milwaukee Company’s Economic Briefing Report is a weekly summary of economic indicators that have the potential of impacting stock and bond markets. Readings associated with a high level of risk for a number of the indicators listed below could suggest an elevated risk of a U.S. recession, and therefore a higher level of market risk. This Report is for informational purposes only and should not be regarded as a substitute for independent research and personalized investment advice.
Comments on this week’s report:
- Treasury yield spreads remain historically narrow with the 10-year minus 2-year spread sitting at 0.17% and the 10-year minus 3-month spread sitting at 0.24%.
- Industrial production growth took a slight dip as its year-over-year change decreased from 4.08% to 3.80%. However, its level of risk is still low at a 3.80% growth rate.
- Growth in Total Business Inventories also realized a moderate drop as its year-over-year growth rate decreased from 5.21% to 4.64% but still shows no indication of a high level of risk.
- The amount of Commercial and Industrial Loans being issued continues to grow at a strong pace as its year-over-year change increased from 9.65% to 10.59%.