Weekly Commentary

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Monday, September 12, 2016

Interest rate speculation, once again, dominated investor sentiment with key U.S. equity indexes concluding the period lower. The Dow Jones, Nasdaq and S&P 500 all posted losses during a holiday-shortened week. International markets also expressed ripples of concern around the next U.S. Federal Reserve (Fed) interest rate hike with the Global Dow and the Euro 600 index both finishing the period lower. The U.K. FTSE 100 was also down. Oil and gold both gained during the period. The U.S. ten-year Treasury note yield rose to approximately 1.67%.

Tuesday, September 6, 2016

U.S. equity market indexes were slightly higher leading into the holiday weekend with the Dow, S&P 500 and Nasdaq posting gains. Internationally, the Stoxx Europe 600 and U.K. FTSE 100 gained; Asian markets were mixed. This activity followed a lukewarm jobs report and a week of speculation over the next Federal Reserve rate hike. Oil dropped for the period and gold was relatively flat. The ten-year U.S. Treasury yield was unchanged from the previous week.

Monday, August 29, 2016

The market was relatively flat during the lead up to Janet Yellen’s Friday commentary at the Federal Reserve (Fed) Jackson Hole conference. Following her remarks, the major U.S. indexes fell for the week. Asian markets also declined but European bourses gained slightly. Oil was also down but has still rallied over the past month, gaining more than 14%. Gold experienced a loss for the period after hitting a four-week low on Wednesday. The ten-year U.S. Treasury note closed at approximately 1.6%.

Monday, August 22, 2016

After an upbeat week, major equity indexes posted marginal losses following a down day on Friday as investors grappled with the pressing question of when the next Federal Reserve (Fed) rate hike will be. The S&P 500 and Dow Jones Industrial Average both experienced a slight loss for the period. International stocks also took a hit with the STOXX Europe 600 trailing the U.S. equity indexes. The yield on the U.S. 10-year Treasury note closed on Friday at approximately 1.58%. Oil prices advanced significantly while gold was relatively flat.

Monday, August 15, 2016

U.S. stocks had a choppy week, reaching new highs on central bank support, then stumbling on lackluster retail sales but still eking out slight gains. European and Asian bourses also gained. Oil rose on speculation that OPEC might restart production freeze talks. Gold was flat for the week. The ten-year U.S. Treasury yield declined to about 1.5%.

Monday, August 8, 2016

After a promising jobs report, U.S. equities rebounded from a midweek dip influenced by the Bank of England’s (BOE) unprecedented interest rate cut. The major U.S. and U.K. indexes posted gains, but Asian and European bourses were down for the week. Gold dove following positive employment numbers. Oil rose modestly after another volatile week. The 10-year U.S. Treasury gained traction from the strong jobs report, settling near 1.6%.

Monday, August 1, 2016

Stocks were mostly up following a volatile week that included disappointing advance U.S. gross domestic product (GDP) data combined with mixed global economic signals. Oil prices were down after tumbling to a 21-day low midweek. Gold experienced gains after the Federal Reserve's (Fed) announcement to hold rates. The 10-year U.S. Treasury yield closed lower for the period.

Monday, July 25, 2016

Stocks advanced during the week after the European Central Bank (ECB) disappointed investors with a balk on further stimulus. U.S. and European markets lost ground but Asian bourses posted slight gains. Oil was down for the week while gold tumbled to a three-week low with a modest recovery. The 10-year U.S. Treasury yield reached its highest level of four weeks.

Monday, July 18, 2016

As stocks posted a week of strong gains, the Dow Jones Industrial Average and the S&P 500 index hit new highs. U.S. inflation rose 0.2% in June, marking the fourth straight month of increases in consumer prices. The 10-year U.S. Treasury yield continued to trace a low path. Gold prices were at a two week low following the week's equities rally. Oil experienced a modest gain after rallying with 4% gains early in the week.

Monday, July 11, 2016

Strong jobs data lifted all major U.S. stock indexes at the end of the week, bringing the S&P 500 to a record high. The 10-year U.S. Treasury yield hit record lows. Brexit continued to fuel economic volatility across the world. Risk-off sentiment was in focus amid continued attention on the fallout from the "leave" vote. Rallies persisted in global government debt and other perceived safe-havens such as gold, fueling skepticism that last week’s stock gains were sustainable. Gold was slightly down following the jobs announcement, but still had risen 27% for the year. Oil prices fell for the week.

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