Weekly Commentary

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Monday, September 15, 2014

U.S. stock markets posted their first weekly decline in six weeks, as investors fretted over the possibility that the Federal Reserve could adopt a more hawkish tone at its policy meeting September 16-17. Generally positive economic reports in the United States provided a little counterweight. The ten-year U.S. Treasury yield rose to 2.61% and the U.S. dollar gained against the euro and yen. Gold, oil and other commodities also fell for the week.

Thursday, September 11, 2014

U.S. equity markets finished flattish in what was an up-and-down week for stocks, as investors digested news out of Europe on both the policy and geopolitical fronts. Data flow on the home front, meanwhile, was mostly strong, with the notable exception of the latest nonfarm payrolls report.

Tuesday, September 2, 2014

Despite an uptick in Ukrainian/Russian tensions, equity markets surged through a light-volume holiday week to finish off August on a high note. With the week’s advance, the S&P 500 broke through the 2000 level for the first time and delivered its best month since February and its best August since 2000. Ten-year Treasury yields hit their lowest levels in more than a year, trading as low as 2.33% last week.

Monday, August 25, 2014

With geopolitical fears easing and U.S. economic data suggesting a continuation of the second quarter’s rebound, markets surged — the S&P 500 set a new record high, while the Nasdaq is trading at its highest level since 2000 — though concerns about Russia’s continued involvement in Ukraine flared on Friday to put a bit of a damper on the week. Ten-year Treasury yields traded as low as 2.38%, though finished slightly higher for the period.


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