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The Morning View: January 21, 2020

Announced this morning, Initial Jobless Claims were 900,000 for the week ending January 16th, and Continuing Claims were 5,054,000 for the week ending January 9th.  Both were decreases from the previous week, but levels remain elevated.  Meanwhile, the European Central Bank announced no changes to near zero interest rates or to their 1.85 trillion Euro stimulus plan announced in December, as social restrictions and lockdowns are being extended in many countries in the region.  Overall, the labor market in the U.S. remains under stress and Europe continues with monetary accommodation.  The virus spread and containment measures in both the U.S. and Europe are driving their economies at the moment, placing urgency on the vaccination process.   The sooner herd immunity can be achieved with individuals returning to normal activities, the better, especially for many of the hardest hit areas of the economy.  In all, bond yields remain slightly higher and equity futures are also higher as we head into the market open. 

This material is intended to be for informational purposes only and is intended for current or prospective clients of Argent Trust Company. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice, and does not take into account all the circumstances of each investor. Forward-looking assumptions are Argent Trust Company’s current estimates or expectations of future events or future results based on proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information. Investments can go down as well as up. Past performance is not a reliable indicator of future results.