The Independent Market Observer

Sam Millette

Sam Millette is director, fixed income, on the Investment Management and Research team at Commonwealth. With the firm since 2013, he manages the fixed income research team, responds to advisor requests, analyzes individual bonds, and authors market research and commentary. Sam graduated from Tufts University with a degree in economics and is a member of the CFA Society Boston.

Recent Posts

Monday Update: Job Growth Gets Back on Track in October

November 8, 2021

Last week’s important economic data releases were focused on business confidence, the Fed’s November meeting, and the October employment report. While most of the news was positive, the jobs report was the highlight, as the pace of hiring improved notably during the month of October. This week will be slightly quieter, with October’s inflation reports and a first look at consumer sentiment in November serving as highlights.

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Monday Update: GDP Growth Slows in Third Quarter

November 1, 2021

Last week, a number of important economic data releases gave us updates on consumer confidence, business spending, personal income and spending, and the third-quarter GDP report. The first look at third-quarter GDP growth showed that the pace of the economic recovery slowed during the quarter, largely driven by a slowdown in personal consumption growth. This will be another busy week for updates, with a focus on business confidence, the results from the Fed’s November meeting, and the October employment report.

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Monday Update: Existing Home Sales Surge in September

October 25, 2021

Last week saw the release of several important economic updates, with a focus on the housing sector. September’s existing home sales report was a highlight, with sales growth hitting a one-year high during the month. This will be another busy week for updates. The reports scheduled will touch on wide swaths of the economy, including a first look at third-quarter GDP growth.

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Monday Update: Retail Sales Beat Expectations in September

October 18, 2021

Last week, a number of important economic updates were released, including September’s inflation and retail sales reports and a first look at consumer confidence in October. The retail sales report was a highlight, as both headline and core sales increased by more than expected due to a rise in spending on consumer goods. This will be another busy week for updates, with a focus on industrial production and the housing sector.

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Monday Update: Hiring Slows in September

October 11, 2021

Last week saw the release of a number of important economic updates, with a focus on international trade, service sector confidence, and the September employment report. Although the employment report showed that hiring continued to slow in September, reports from previous months saw upward revisions that partially offset the slowdown. This will be another busy week for updates, with reports to come on September’s inflation and retail sales, as well as a first look at consumer confidence in October.

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Monday Update (on Tuesday): Personal Spending Beats Expectations in August

October 5, 2021

Last week saw a number of important economic updates, with a focus on durable goods orders, consumer and manufacturer confidence, and August personal income and spending. Durable goods orders and personal spending were highlights, as both increased by more than expected in August. This will be another busy week for updates, with news on international trade, service sector confidence, and September employment to come.

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Monday Update: New Home Construction Accelerates in August

September 27, 2021

Last week saw a number of important economic updates, with a focus on the housing sector and the FOMC rate decision from the Fed’s September meeting. The housing market showed signs of continued growth, as both housing starts and building permits increased by more than expected in August. This will be another busy week for updates. Highlights will include reports on durable goods orders, consumer and manufacturer confidence, and August personal income and spending.

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Monday Update: Retail Sales Beat Expectations in August

September 20, 2021

The focus of last week’s important economic data releases were on consumer inflation, industrial production, and August retail sales. Retail sales increased by more than expected last month, largely driven by a pickup in grocery and online sales. This will be another busy week for updates, including news on the housing sector and the results from the Fed’s September meeting.

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Monday Update: Initial Jobless Claims Set New Pandemic Low

September 13, 2021

Last week was relatively quiet in terms of economic updates, with only two major data releases. Initial jobless claims continued to decline to start September, while producer prices increased by more than expected in August. This will be a busier week for updates, with reports to come on consumer inflation, industrial production, retail sales, and consumer sentiment.

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Monday Update (on Tuesday): Hiring Slows in August

September 7, 2021

There were a number of important economic data releases last week, with a focus on consumer and business confidence and the August employment report. The employment report showed that the pace of hiring slowed during the month, as rising medical risks served as a headwind for faster job growth. This week will be relatively quiet, with only two reports due to the holiday-shortened schedule.

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