Weekly Commentary

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Monday, April 18, 2016

U.S. stocks delivered a solid week, as better than expected earnings by some large domestic banks buoyed indexes. European stocks delivered an impressive advance, breaking a four-week string of losses. Asian equities hit a four-month high before pulling back. Yield on the ten-year U.S. Treasury finished a few basis points higher on the week.

Monday, April 11, 2016

U.S. stocks finished down for the week, notwithstanding late surges after Fed officials downplayed the risks of recession and more encouraging talk of oil production limits. Asian markets also declined but Europe stocks rose thanks to strong gains on Friday. Oil and gold prices both rose. The yield on the ten-year U.S. Treasury closed at 1.72%, down from 1.78% the prior week.

Monday, April 4, 2016

U.S. stocks markets rose broadly for the week, gaining support from dovish Fed views and increasing confidence in the economy. Stocks were down in Europe and Asia, and oil prices sank on news that Saudi Arabia might not support production limits. Gold prices fell slightly and the yield on the ten-year U.S. Treasury closed at 1.78%, down from 1.90% the prior week.

Monday, March 28, 2016

After posting five weeks of gains, global stock markets slipped back during a holiday-shortened trading week. Hints that the Fed might raise interest rates sooner than expected strengthened the U.S. dollar, which hurt equities and caused oil prices to retrace some of their gains over recent weeks. Gold prices fell and the widely watched yield on the ten-year U.S. Treasury note closed at 1.90%, up slightly from 1.87% the prior week.

Monday, March 21, 2016

Stocks posted a fifth straight week of gains, with the exceptions of Japan and the U.K. U.S. stocks rose broadly as the Dow and S&P 500 turned positive for the year. Investors saw good news in the slow but steady U.S. economic progress and in the FOMC decision to not raise interest rates. That decision allowed the U.S. dollar to depreciate somewhat against other currencies; oil prices rebounded and gold prices rose. The ten-year U.S. Treasury note yield briefly touched 2.00%, settling Friday at 1.88%.

Monday, March 14, 2016

Global stocks pushed through resurgent volatility to another week of gains. Investors took favorable views of the ECB’s latest stimulus measures, the health of the U.S. economy and the prospects for limiting crude oil production. Oil prices rose whereas gold and bond prices slipped. The yield on the ten-year U.S. Treasury note rose from 1.87% the prior week to 1.98%.

Monday, March 7, 2016

Calmer conditions soothed market nerves and led to a third straight week of global stock gains. With the 4Q15 earnings letdown over, volatility receded, oil prices stopped falling and the dollar stopped rising. Expected inflation began to climb, as did gold prices. The yield on the ten-year U.S. Treasury note rose from 1.76% the prior week to 1.87%.

Monday, February 29, 2016

U.S. stocks notched a second week of gains as investors shrugged off mixed economic data. European bourses were up as well, while Asian markets showed mixed results. Oil rallied mid-week on news of a proposal to freeze production at January levels, finishing with a modest gain by Friday. Gold and government bonds fell slightly. The yield on the ten-year U.S. Treasury note was virtually unchanged from the prior week.

Monday, February 22, 2016

Global stock markets brushed aside disappointing earnings, holiday interruptions and oversold conditions to advance for the week. The rally drew strength from encouraging talk of a freeze on oil production and dovish notes from the January FOMC meeting. Oil prices rose, whereas gold fell and government bonds were mixed. The yield on the ten-year U.S. Treasury note rose slightly from the prior week.

Tuesday, February 16, 2016

Stocks finished the week in the red, as investors questioned the ability of central banks to reinvigorate the world economy. Japan dragged down Asian markets with its worst decline since 2008. Europe and the United States rallied on Friday but could not overcome weak bank earnings and plunging oil prices. Bids climbed for gold and government bonds; the ten-year U.S. Treasury yield fell from 1.83% to 1.73%.


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