Weekly Commentary

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Monday, December 11, 2017

U.S. bourses slid as Congress grappled with the details of tax reform, but regained momentum on encouraging jobs data and news that the U.K. and European Union had agreed on Brexit terms. Gold was off a lot, oil a little. The 10-year U.S. Treasury yield closed up slightly at 2.38%.

Monday, December 4, 2017

The Dow Jones Industrial Average topped 24,000 in another record-breaking week for U.S. stocks. Investors overlooked political news focusing on tax cuts that in a surprise passed late Friday night in the Senate and is expected to kick off a strong new week. The 10-year U.S. T-note yield jumped to 2.4% on the news over the weekend while crude oil prices were flat and gold’s luster was slightly off.

Monday, November 27, 2017

U.S. equity markets bumped up in a strong global environment fueled by supportive bank policies and steady earnings growth. The start of the holiday shopping season grabbed a lot of attention with an annual Black Friday online spending increase of around 18%, year to year.

Monday, November 20, 2017

The U.S. equity market was little changed at the end of the period as we enter what’s likely to be a quiet holiday week. Strong fundamentals continue to drive global markets despite domestic policy uncertainties and geopolitical tensions; though weakness in oil prices and skepticism about the passing of the tax bill are still weighing on market sentiment.

Monday, November 13, 2017

Tax talk dominated a relatively quiet week as 3Q earnings wraps up. U.S. equities, along with gold and oil, finished flat. The 10-year U.S. Treasury yield closed at approximately 2.37%.

Monday, November 6, 2017

U.S. equities crept up during the week while October consumer confidence registered at 125.9, its highest level since December 2000. Oil and gold also finished the period higher and the 10-year U.S. Treasury yield closed at approximately 2.34%.

Monday, October 30, 2017

U.S. equities experienced a strong week as speculation for a new Fed chair continued and the European Central Bank (ECB) kept its rates unchanged. Oil prices climbed and gold dipped for the period.

Monday, October 23, 2017

U.S. stocks showed strength as earnings season intensified and economic news mostly met expectations. Gold and oil prices slipped; bond yields jumped as investors speculated about whom would be nominated to succeed Federal Reserve chair Janet Yellen.

Monday, October 16, 2017

U.S. equities inched up for the week and global stocks rallied, with stocks from 23 countries hitting historic highs. The release of the minutes from September's Federal Open Market Committee (FOMC) meeting was fairly uneventful, with the meeting's debates not differing much from the public statements.

Monday, October 9, 2017

For the second week in a row, U.S. equities continued to climb higher. There continues to be a lot of moving pieces surrounding tax reform. One of the big themes is the White House’s pushback against claims that the benefits of the Republican tax plan will go mostly to the wealthy.


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