On May 1, the Federal Reserve voted to hold interest rates steady, between 2.25% and 2.50%, meeting market expectations. The decision follows a much stronger-than-anticipated growth over the first three months of the year. Bureau of Economic Analysis data showed U.S. real gross domestic product (GDP) increased 3.2% in the first quarter of 2019, beating analyst expectations. While consumer spending surged to its highest level in over nine years in March, rising 0.9% overall (0.7% when adjusted for inflation), driven mainly by a jump in health care and motor vehicle expenditures. The 10-year…

Ten cities where Greysteel conducts business were ranked among the top 25 “Best Places to Live in the USA” in U.S. News & World Report’s recently published 2019 annual list. Each year U.S. News analyzes the 125 most populous metro areas in the nation to find the best places to live based on data from the U.S. Census Bureau, the Federal Bureau of Investigation, and the U.S. Dept. of Labor. U.S. News categorizes data into the five indexes and then weights them using a methodology determined by Americans' preferences. To make the top of the list, a…

While some analysts point to the dramatic reduction in interest rates over the past six months as an indicator of a possible recession, the economy and broader market are showing mixed signals. Retail sales unexpectedly fell in February while the Institute for Supply Management’s (ISM) Manufacturing Index rose in March. The S&P index was up over 13% in Q1 2019 and although economic growth continues to slow, the next several months will provide greater clarity in the direction of the U.S. economy.

Last week, the Federal Reserve announced it will stop shrinking its $4 trillion balance sheet by the end of September 2019 and would like to get back to a balance sheet consisting mostly of Treasuries. Currently, Treasuries account for approximately 55% of the assets on the Fed's balance sheet, MBS account for 40%, and 5% other assets, including gold. Check out the full article with charts below.…

Greysteel Senior Managing Director Doug Banerjee will compete in the 22nd Annual Polar Challenge to Conquer Cancer.  This year's proceeds benefit the UNC Lineberger Comprehensive Cancer Center.