Weekly Commentary

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Monday, June 22, 2015

Despite trailing off on Friday, domestic equity markets delivered their best week in some time thanks in part to a dovish Fed. Chinese exchanges, in contrast, were pummeled as investors fearful of a bubble sent stocks there to the worst week in more than seven years.

Monday, June 15, 2015

U.S. stocks broadly declined for the week, pressured by the sell-off of European stocks as Greece’s debt-default drama intensified. Only the S&P 500 index managed to break even. Asian stocks were mixed, buffeted by U.S. bond market volatility and by worries about a U.S. rate increase, which cut investment flows into emerging markets.

Monday, June 8, 2015

The U.S. economy generated 280,000 new jobs in May, a much stronger than expected result. Investors interpreted the strong job growth to imply that the Federal Reserve might begin raising interest rates sooner than expected, which sent bond prices down and caused yields to spike upward. The widely watched ten-year U.S. Treasury yield started the week at 2.1% and rose to 2.4% by Friday, the highest it had been since last October.

Monday, June 1, 2015

A difficult week coming out of the Memorial Day holiday wasn’t enough to take the shine off a successful May for domestic equity markets, as major stock indexes —led by the Nasdaq — posted solid gains for the month. Yield on the benchmark ten-year Treasury moved lower during the week but finished the month slightly higher.

Tuesday, May 26, 2015

A quiet week in the equity markets ahead of the long Memorial Day weekend saw the S&P 500 and Nasdaq set new record highs. Yield on the benchmark ten-year Treasury edged higher during the week, closing above 2.2%. Crude oil saw its nine-week winning streak snapped, posting a small loss.

Monday, May 18, 2015

Equity markets posted only mild gains for the week, but it was enough to send the S&P 500 to a new record high. Yield on the benchmark ten-year Treasury ended lower for its first weekly decline in a month. Crude oil continued to move higher, posting a record ninth consecutive weekly gain.

Monday, May 11, 2015

A sluggish week in the equity markets was rescued by a sharp Friday rally on what some observers were terming a “Goldilocks” job report — strong enough to indicate economic growth but not so robust as to incite the Fed into near-term action. Yield on the benchmark ten-year Treasury ended slightly higher but was well off mid-week highs.

Monday, May 4, 2015

Equity markets followed up a week full of records on a tumultuous and ultimately negative note, as a sharp Friday rally was not enough to get the major domestic indexes back into positive territory for the period. Yield on the benchmark ten-year Treasury spiked higher, eclipsing an eight-week high near 2.12%, as the Fed appeared unfazed by the economy’s weak first quarter growth.

Monday, April 27, 2015

It was a solid week in the equity markets, as better-than-expected earnings from a number of bellwether tech companies sent bourses higher. Both the S&P 500 and Nasdaq ended the week at record levels; the Nasdaq set a new high-water mark on Thursday — for the first time since 2000 — only to top it a day later. Meanwhile, continued unimpressive economic data had the interest rate on the benchmark ten-year Treasury drifting lower on the week, though it continued to trade in a fairly tight range.

Monday, April 20, 2015

What looked like a decent week in the equity markets was derailed by Friday’s global selloff. Heightened concerns over a Greek default combined with news that China had tightened restrictions on margin lending to send investors in search of safe havens. The interest rate on the benchmark ten-year Treasury drifted lower over the week, while yield on ten-year German bunds set a series of all-time lows and settled at about 0.08%.


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