Weekly Commentary

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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.

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%.


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