Monthly Archives: March 2017

From the Desk of Robert Dye

Tactical Versus Strategic Thinking at the Fed Last Monday I wrote that the Fed still has work to do in order to set monetary policy expectations for the second half of this year. This week, various Fed officials, including FOMC … Continue reading

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Comerica Economic Weekly

Expectations for a fed funds rate hike at the upcoming May 2-3 Federal Open Market Committee meeting remain muted. According to the fed funds futures market, the implied probability of a 25 basis point rate hike on May 3 is … Continue reading

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Comerica Bank’s Florida Index Rises Again

Comerica Bank’s Florida Economic Activity Index grew in January, up by 1.7 percentage points to a level of 163.8. January’s index reading is 86 points, or 110 percent, above the index cyclical low of 78.1. The index averaged 155.3 in … Continue reading

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Comerica Bank’s Arizona Index Eases

Comerica Bank’s Arizona Economic Activity Index declined 0.2 percentage points in January to a level of 112.3. January’s index reading is 35 points, or 46 percent, above the index cyclical low of 77.0. The index averaged 110.3 points for all … Continue reading

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Comerica Bank’s California Index Improves

Comerica Bank’s California Economic Activity Index grew by 0.2 percentage points in January to a level of 127.0. January’s reading is 43 points, or 51 percent, above the index cyclical low of 84.1. The index averaged 122.4 points for all … Continue reading

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Comerica Bank’s Michigan Index Inches Up

Comerica Bank’s Michigan Economic Activity Index grew just 0.1 percentage points in January to a level of 130.1. January’s reading is 56 points, or 76 percent, above the index cyclical low of 74.1. The index averaged 127.8 points for all … Continue reading

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Comerica Bank’s Texas Index Sees Strongest Monthly Gain Since 2014

Comerica Bank’s Texas Economic Activity Index ticked up by 1.3 percentage points in January to a level of 93.1. January’s index reading is 20 points, or 28 percent, above the index cyclical low of 72.8. The index averaged 91.3 points … Continue reading

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Comerica Economic Weekly

U.S. economic data showed mixed trends in housing and ongoing improvement in the manufacturing sector. The biggest economic news came from financial markets with some profit taking in stocks on Tuesday and from Washington where political power struggles are challenging … Continue reading

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February New and Existing Home Sales, March UI Claims

New Home Sales Strong in February New Home Sales increased by 6.1 percent to a 592,000 unit annual rate. Existing Home Sales fell by 3.7 percent in February to a 5,480,000 unit annual rate. Initial Claims for Unemployment Insurance gained … Continue reading

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From the Desk of Robert Dye

Along with the highly anticipated monetary policy statement of March 15, when the Federal Reserve announced that they were increasing interest rates for the third time in this tightening cycle, the Federal Open Market Committee also issued an updated “dot … Continue reading

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