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ProBank Austin Advisor

May 3, 2021 - 1 min read

Economic growth and inflation accelerated in the first quarter. The Advance report for Real GDP revealed an extraordinary quarter to start the year. Total economic activity increased by 6.4% after growing by 4.3% in the last quarter of 2020. The first quarter growth was driven by a huge 10.7% increase in personal consumption expenditures, which…

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ProBank Austin Advisor

April 26, 2021 - 1 min read

Strong economic and inflation data should not cause the Fed to change policy this week. Strong data continued to be released last week and is expected this week. New home sales and the Leading Indicators were both up more than originally expected for March. New home sales reached a level not experienced since August 2006….

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Michigan Banking Summary: Visibility Improving

April 23, 2021 - 6 min read

As Q1-2021 earnings releases hit the wires, the big banks have already set a general tone along the lines of “it didn’t get as bad across the board as we initially thought a year ago…but we are still not completely out of the woods”, economic forecasts continue to reflect a brighter, and welcoming, picture for…

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ProBank Austin Advisor

April 19, 2021 - 1 min read

The expected surge in demand and prices was reported for March. Two data points released last week highlight the issues for investors over the next two years. The first data point was the CPI index for March. The overall index was up 0.6% for the month, and this caused the year-over-year increase to jump to…

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ProBank Austin Advisor

April 12, 2021 - 1 min read

Economic data continues to reflect a strong rebound in growth this year. As expected, economic data continues to rebound from the weather affected results in February. The most notable was the Producer Price Index for March. The headline increase was 1.0% for the month which follows the 0.5% rise in February and 1.3% rise in…

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ProBank Austin Advisor

April 5, 2021 - 1 min read

The first of the March data released last week exceeded even the most optimistic forecasts. Any doubts as to whether the February economic data was primarily a function of the winter weather was put to rest last week, as all the data released was well above consensus expectations. It started with the Conference Board’s consumer…

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WHY THE $900 MILLION CITIBANK LOAN PAYMENT ERROR MATTERS TO YOUR INSTITUTION

April 1, 2021 - 3 min read

I am sure by now everyone in banking is aware of the almost unfathomable payment processing error that occurred at Citibank in August 2020. $900 million in loan payments were erroneously transferred out of the bank. If you would like to read the details of what occurred, the court documents provide the process, step by step. This year the…

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ProBank Austin Advisor

March 29, 2021 - 1 min read

The weather-related weak economic data is behind us with very strong data expected. The last of the weather-impacted economic data for February was released last week. Investors can now look forward to what are expected to be huge increases in March. The first of that data will be released this week with Consumer Confidence and…

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ProBank Austin Advisor

March 22, 2021 - 1 min read

The Fed did not change its policy or guidance at last week’s meeting. The data being released for February is much slower than the very strong data from January and is below expectations. It is clear the winter storms that swept through much of the country during February had a much larger impact on economic…

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ProBank Austin Advisor

March 15, 2021 - 1 min read

The FOMC meets this week with rising inflation risks being the issue addressed. The FOMC meets this week with issues beginning to affect future decisions about monetary policy. The economy is rebounding much sooner and faster than expected as recently as two months ago. The economic data in the last two months reflects strong growth…

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ProBank Austin Advisor

March 8, 2021 - 1 min read

Risks have moved to how strong will the economy be going forward. The pressure on intermediate and long-term market interest rates continued last week. We begin this week with the yield on the ten-year treasury at 1.60%. That is 100 basis points higher than it was as recently as November and is up 50 bp…

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