With little new data this week, the focus will be on Washington.

Last week was filled with events driving asset pricing. The phase one trade agreement with China was signed. The USMCA was passed in the Senate and is now ready for signing by the President. The uncertainties over trade issues have diminished with these two accomplishments. The consumer is alive and well with retail sales in December increasing as expected by 0.3%. This data is even better when the volatile and large dollar purchases of auto’s is excluded. This data was up a very strong 0.7% and is up 6.3% on a year-over-year basis.

 

PROBANK AUSTIN ADVISOR - JANUARY 20, 2020