After Years of Decline, Yields on U.S. Treasuries Rise
After declining for almost eight years, yields on U.S. Treasuries turned upward in the second half of 2016. Several domestic and international factors have led to a decrease in demand for these bonds.
Metro Business Cycles
We construct monthly economic activity indices for the 50 largest U.S. metropolitan statistical areas (MSAs) beginning in 1990. Each index is derived from a dynamic factor model based on twelve underlying variables capturing various aspects of metro area economic activity. To accommodate mixed-frequency data and differences in data-publication lags, we estimate the dynamic factor model using a maximum- likelihood approach that allows for arbitrary patterns of missing data. Our indices highlight important similarities and differences in business cycles across MSAs. While a number of MSAs ...
A report on economic conditions in the Memphis zone
Secured and Unsecured Debt Over the Business Cycle
Unsecured debt better predicts economic activity than secured debt
Does More Financial Development Lead to More or Less Volatility?
Since the financial crisis, many have speculated that as a financial sector becomes more developed, volatility can become excessive.
Does the Pullback in the Bond Market Matter?
Foreign demand for U.S. Treasuries might be crucial in keeping a cap on U.S. borrowing costs.