Market Commentary

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Market Commentary

Weekly Market Commentary July 24, 2017

Earnings season is off to a good start with major indices up almost every day of the week. Additionally, the Bank of Japan’s decision to again push back the target date to reach its inflation goal and the ECB standing pat on stimulus pushed Asian and European exchanges higher. The S&P 500 rose 0.5% and our global benchmark, the MSCI ACWI, climbed 0.6%. Both indexes hit all-time records on Thursday. The Bloomberg BarCap U.S. Aggregate Bond Index increased 0.6%.

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Market Commentary

Weekly Market Commentary July 17, 2017

Headline CPI for June came in at 1.6%, down from 1.9% the previous month.  Fed’s chair Yellen reiterated her confidence about the U.S. economy, but noted that the committee, “…stands ready to adjust policy if it appears the inflation undershoot appears consistent.” The less hawkish tone sent the U.S. equity markets higher. The S&P 500 climbed 1.4%. Global stocks, represented by the MSCI ACWI, soared 2.1% and the Bloomberg BarCap U.S. Aggregate Bond Index rose 0.4%.

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Weekly Market Commentary July 10, 2017

Markets weathered additional indications that global interest rates are moving higher while the world’s most powerful leaders met at the G20 meeting in Hamburg. The S&P 500 rose 0.1% as the MSCI ACWI fell 0.2% and The Bloomberg BarCap US Aggregate Bond Index slid 0.4% because of the increase in rates.

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Weekly Market Commentary July 3, 2017

Prominent central bankers provided a slew of comments suggesting the cost of money is headed higher. The ECB’s Draghi, BoE’s Carney, BoC’s Poloz and BoJ’s Kuroda’s speeches at a central bank conference in Portugal last week carried a more hawkish tone than anticipated. It seems like a deliberate and coordinated communication that the rate environment is changing. Investors got the message as the speeches sparked a surge in yields and sharp swings in currencies.

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Weekly Market Commentary June 26, 2017

The S&P 500 Index broke out to all-time highs on Monday, only to be dragged down by the fall in oil prices. Monday’s gains were large enough to overcome the rest of the week and major markets finished higher. The S&P 500, the MSCI All Country World Index, and the Bloomberg BarCap U.S. Bond Index all managed to rise 0.2%. Investors, concerned about the Federal Reserve raising rates too quickly, continue to push long-term bond rates lower.

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Weekly Market Commentary June 19, 2017

Global markets stayed steady during a week where the Federal Reserve behaved as expected and Amazon.com surprised markets with acquisition news. The S&P 500 inched up 0.1%. The MSCI All Country World Index slid 0.5% and the Bloomberg BarCap U.S. Aggregate Bond Index edged 0.2% higher.

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Weekly Market Commentary June 12, 2017

Geopolitics took center stage this week. The diplomatic crisis in Qatar, a terror attack in London, parliamentary elections in the United Kingdom, and former FBI director James Comey’s testimony all moved investment prices. Global markets weathered the barrage fairly well. The S&P 500 fell 0.3%. The MSCI All Country World Index slid 0.5% and the Bloomberg BarCap U.S. Aggregate Bond Index edged 0.2% lower.

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Weekly Market Commentary June 5, 2017

Global stock markets continued to hit new highs. The S&P 500 eclipsed its previous high and rose 1.0% for the week. Global stocks also hit new highs as the MSCI All Country World Index rose 1.1%. Bonds posted healthy gains, rising 0.5% as reflected by the Bloomberg BarCap U.S. Aggregate Bond Index.

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Weekly Market Commentary May 30, 2017

Stocks set new 52-week highs this week. The S&P 500 and the global MSCI ACWI both reached new highs on Thursday, before declining slightly on Friday. For the week, the S&P 500 rose 1.4%, the MSCI ACWI climbed 1.1% and the Bloomberg BarCap U.S. Bond Aggregate remained unchanged.  Read more

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Weekly Market Commentary May 22, 2017

While the week started with fresh new highs for the S&P, stock markets tumbled mid-week on concerns political allegations may disrupt reform agendas in the U.S. and Brazil. On Wednesday the S&P 500 dropped approximately 1.5%. For the week, the S&P 500 slid 0.4%, the MSCI ACWI index of global stocks was basically unchanged, and the Bloomberg BarCap US Bond Aggregate rose 0.4%.  Read more