Weekly Commentary

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Tuesday, May 31, 2016

U.S. stocks had one of their strongest weeks in months; the technology sector turned up as economic data and continued hawkish Fedspeak reinforced market sentiments. Global stocks also gained, with only the Shanghai index faltering. Gold prices fell, oil prices rose and the ten-year U.S. Treasury yield was unchanged at 1.85%.

Monday, May 23, 2016

Stocks continued their roller coaster ride for another week, with mixed results across and within regions, as investors pondered the implications of renewed hawkish Fedspeak. Major U.S. indexes had slight gains; Asian and European indexes were mixed. Gold prices fell but oil prices climbed. The yield on the ten-year U.S. Treasury note rose about 13 basis points on the week.

Monday, May 16, 2016

Stock markets were mixed for the week, pressed by choppy trading sessions without obvious thematic drivers. The major U.S. indexes were mostly down; Asian and European indexes were mixed. Gold and oil prices posted gains for the week, as did U.S. Treasury securities; the yield on the ten-year note declined for a second week to finish near 1.7%.

Monday, May 9, 2016

Stock markets declined for another week, bounced around by global economic concerns, weak corporate earnings and a disappointing U.S. jobs report. The yield on the ten-year U.S. Treasury note eased slightly for the week, as did oil and gold prices; other commodities were mixed.

Monday, May 2, 2016

Disappointing earnings sent stocks lower for the week across the major global markets; a few markets such as China broke even. A selloff of technology stocks erased April monthly gains for the major U.S. indexes. Gold and oil prices gained; the ten-year U.S. Treasury yield note declined about seven basis points on the week.

Monday, April 25, 2016

U.S. stocks rallied until midweek, then retrenched but still finished with gains; the Nasdaq started higher than the other major indexes but finished with a loss. European and Asian markets gained, though China pulled back. Gold rose, as did oil despite a failure to agree on production limits. The yield on the ten-year U.S. Treasury climbed about 14 basis points on the week.

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.

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