Innovest's March 2010 Market Commentary
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The United States’ economic recovery extended in March, characterized by a rise in retail sales and the strongest job growth results since May 2007. The ISM Manufacturing and Non-manufacturing indexes increased in March, and durable goods orders rose for the third month in February. These reports suggest that new manufacturing and service expansion will continue to fuel the U.S. economic recovery. At the end of March the Fed completed its $1.25 trillion purchase of mortgage backed securities.
After almost a year of deliberation and market speculation, President Obama and Congress managed to pass major healthcare reform legislation during the month of March. Mandatory insurance for individuals, Federal oversight of health insurance coverage, as well as a collection of tax increases and fees are likely to be debated for years to come.
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