The past week was relatively light in terms of data releases but some of the updates were meaningful in helping to assess the current economic environment. On the labor front both initial and continuing jobless claims were below consensus estimates and the prior week’s report. Ongoing strength on the jobs front has been a key...
Bond Yields Break to New Highs Equities were down on the week as bond yields finally broke out to cycle highs. The S&P 500 was down 1.4% on the week. The NASDAQ was weaker with a drop of 2.5% as higher beta names underperformed. Core bonds were down 0.6%. Core bonds have fallen more than...
Summer Doldrums Over the last week, fixed income rose to the top regarding cross-asset performance, rising 0.3%. U.S. equities declined 0.1%, as U.S. small caps fell 1.0% while large caps were flat. Outside the U.S., emerging markets declined 0.6% while foreign developed eked out a modest 0.1% increase. Economic Tea Leaves Inflation has been front‑of‑mind...
