The following are the headlines discussed at Aldwin Callen's Monday morning briefing:
- The job market in the United States remains sluggish, with only 49,000 new positions created in January, after 227,000 were lost in December, and 18 million people receiving unemployment benefits.
- Long-term US Treasury yields increased (to roughly 1.2 percent on the 10-year and 2 percent on the 30-year) on the prospect of additional government aid to offset the economic impact of Covid-19.
- Oil prices rose sharply last week, returning to pre-pandemic levels as a result of OPEC+ production restrictions and optimism about Covid-19 vaccinations.
- The US trade imbalance increased 18 percent to $679 billion in 2020, the biggest level since 2008, as exports declined more than imports.
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