Weekly Commentary

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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.

Tuesday, July 5, 2016

Global stocks began the week in retrenchment, driven by Brexit risk-off sentiment, but found their footing by mid-week. Markets around the globe finished the week in the black, and some of the major indexes turned positive year to date. The pound further declined against the U.S. dollar. Gold slipped early in the week but rallied to post gains by Friday. The ten-year U.S. Treasury yield dipped below 1.4% before closing at about 1.5%. Oil prices got a boost from lower supply.

Monday, June 27, 2016

Stocks plunged in Asia, Europe and the United States, posting losses for the week after Britain voted to leave the European Union. Investors drove the pound to its lowest levels in decades. Investors seeking safe havens bid up gold and U.S. government bonds. The yield on the ten-year U.S. Treasury fell as low as 1.4% but climbed back to slightly below 1.6% by end of Friday. Oil prices fell for the week.

Monday, June 20, 2016

Stock prices skidded for a second week as inflation expectations slipped and Brexit worries mounted. Low yields in Germany, Japan, and the U.K. continued to push investors into the U.S. markets, driving the ten-year U.S. Treasury yield beneath last week’s three-year low. Oil prices fell but mostly recovered by Friday as the U.S. dollar slid. Gold prices continued to gain.

Monday, June 13, 2016

U.S. stocks declined for the week on uncertainty over global economic growth, central bank policy and the upcoming Brexit vote. European bourses also were in the red; Asian markets were mixed. Bonds yields in Germany, Japan and the U.K. fell to record lows, pushing investors to the United States and driving the yield on the ten-year U.S. Treasury to its lowest point in three years. Oil prices fell as the U.S. dollar strengthened; by contrast, gold prices gained.

Monday, June 6, 2016

U.S. stocks wobbled unevenly through a volatile, holiday-shortened week that culminated with a dismal jobs report on Friday. The report sent the dollar and government bond yields plummeting; the ten-year U.S. Treasury dropped about 15 basis points. Oil prices fell and gold prices jumped. Brexit fears worsened the woes of European bourses, whereas Asia finished mixed.


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