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Voya™ Investment Management was formerly ING U.S. Investment Management

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Weekly Commentary

Monday, March 02, 2015

Though markets were mixed last week, the strong February rebound had major indexes well into positive territory for the year to date and many at or near all-time highs. The yield on the benchmark tenyear U.S. Treasury note fell slightly during the week, while bonds from a variety of European governments — including Germany, Italy, Spain, Portugal and Ireland — all touched new historical lows. Oil prices continued to be volatile.

Monday, February 23, 2015

Stock markets extended their gains into the third week of February. In the U.S., a holiday-shortened trading week produced solid progress for most equity indices; both the DJIA and S&P 500 established new records, while the Nasdaq closed just 1.9% short of its March 2000 peak. European and Asian bourses posted similar results to establish new multi-year highs. Yield on the benchmark ten-year U.S. Treasury was volatile, but ultimately higher; it’s risen nearly 50 bps over the past three weeks. Oil prices remained under pressure and finished lower.

Tuesday, February 17, 2015

The February rebound in domestic equity markets continued, driving the S&P 500 a new all-time high and the DJIA above 18,000 for the first time in 2015. The Russell 2000 index of small-cap stocks also established a new high-water mark, while the Nasdaq reached levels not seen since 2000. The Treasuries selloff persisted, with yield on the benchmark ten-year closing the week above 2%.

Monday, February 09, 2015

After an abysmal January, U.S. equity markets began February with a surge. Even after a Greek downgrade sparked a modest Friday selloff, both the S&P 500 and DJIA gained more than 3% during the week. A four-day Treasury selloff sent yield on the benchmark ten-year to 1.94%. Oil prices posted their biggest one-week gain since 2011, with the U.S. benchmark closing around $52/barrel.

Monday, February 02, 2015

Markets finished off a difficult month on a sour note, with each of the big-three indexes returning to their losing ways for the week. For January, the DJIA and S&P 500 each shed more than 4%, while the Nasdaq loss was closer to 3%; European equities, in contrast, delivered the best monthly performance in more than three years surging nearly 7%. Yield on the benchmark ten-year Treasury fell to as low as 1.65%, the lowest level since May 2013. Crude oil prices climbed after the number of U.S. rigs in operation were reported lower.

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