Professor Mark J. Perry's Blog for Economics and Finance
Summary: This week’s slate of reports brought mixed economic news. Consumer credit soared twice as much as expected in November and retail sales were strong in December. Business inventories increased and the U.S. trade gap narrowed slightly. For the week, the S&P 500 Index rose 1.6% to 1,431. The 10-year U.S. Treasury yield rose 13 basis points to 4.77%, and the average 30-year fixed rate mortgage rose 5 basis points to 5.75%.
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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