Market Commentary

July 17th, 2017 - Market Update

U.S. equity markets closed at fresh record highs last week while Treasury yields declined. A good start to corporate earnings, moderate economic data, and what was deemed dovish testimony from Janet Yellen all played into the week's narrative. U.S. dollar weakness continued to play a supporting role in non-U.S. equity market strength. Both developed and emerging markets posted strong gains on the week with the latter leading all asset classes thus far in 2017, up over 24%. [...]

July 10th, 2017 - Market Update

Last week delivered the July 4th holiday and kicked off the second half of 2017. The mid-week day off most definitely translated into high volumes of email auto-responses and relatively low trading volume on U.S. exchanges. U.S. equity markets managed to post small gains, largely due to a rally in financial stocks which benefited from a steepening yield curve. [...]

July 3rd, 2017 - Market Update

Global central bank narratives last week drove bond yields higher and put a charge of volatility into equity markets. The tech selloff continued and interest rate sensitive sectors (utilities) struggled while energy stocks enjoyed a bear market bump in the price of oil. The yield curve steepened, which is probably a welcomed development for FOMC members looking to raise rates in September. [...]

June 26th, 2017- Market Update

Major U.S. equity indices managed to seek out a small gain last week while the NASDAQ tacked on 1.8%, led by a strong rally in tech and healthcare names. Despite the scandal ridden headlines throughout 2017, the S&P 500 hit its 24th all-time closing high on Monday. The Senate's plan to deregulate and overhaul the healthcare industry played well for healthcare sector stocks. Healthy gains in the stock market were again somewhat contradicted by the deflationary/low growth signals of falling interest rates in the bond market. [...]

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