The Morning View: December 31, 2020

Announced this morning, Initial Jobless Claims were 787,000 for the week ending December 26th, less than expected.  Continuing Claims were 5,219,000 for the week ending December 19th, also less than expected.  Overall, both measures are slightly better than estimates and lower than the previous week.  Improvement in the labor market continues, albeit slowly, and is welcomed, although the results are still well above pre-pandemic levels.  The upcoming December jobs report will be important to confirm the slow improvement and how the pandemic is currently affecting overall employment levels.  The longer employment conditions remain above pre-pandemic levels the greater likelihood it will delay the economic recovery.  In all, bond yields are little changed and equity futures are mixed this morning as we head into the market open.  We wish everyone a safe and happy New Year!

This material is intended to be for informational purposes only and is intended for current or prospective clients of Argent Trust Company. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice, and does not take into account all the circumstances of each investor. Forward-looking assumptions are Argent Trust Company’s current estimates or expectations of future events or future results based on proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information. Investments can go down as well as up. Past performance is not a reliable indicator of future results.


Heritage Trust

In 1998, a group of trust officers and customers came together to form an alternative to big bank trust departments for those desiring unbiased and independent counsel with a high level of client service. Building from that core, Heritage provides an array of related financial services.

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The Morning View: January 21, 2020

The Morning View: January 21, 2020

Announced this morning, Initial Jobless Claims were 900,000 for the week ending January 16th, and Continuing Claims were 5,054,000 for the week ending January 9th.  Both were decreases from the previous week, but levels remain elevated.  Meanwhile, the European...

The Morning View: January 15, 2021

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In this morning’s data, Retail Sales for December fell -0.7%, worse than expected.  Non-store Retailers, Electronics & Appliances, and Food Service & Drinking Places were especially weak, while Gasoline Stations showed some strength.  The Control Group, which...

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