As we approach the end of the year with no fiscal cliff resolution, we would anticipate Treasury yields to move lower and out of the range they have been in since midsummer. The 10-year Treasury stood at 1.58 percent late last week, close to the bottom of the range, which is 1.54 percent; however, it remains above its recent low of 1.38 percent. Read more now.
It’s been a relatively uneventful few months in the Treasury space, even with the announcements from the Federal Reserve, the
impending election, and continued concerns out of Europe. Read more now.
Equity markets retreated last week, and the S&P 500 lost 1.48 percent. The Dow Jones Industrial Average was the biggest loser,
declining 1.79 percent, while the Nasdaq was the best performer on a relative basis, losing just 58 basis points (0.58 percent). Read more now.
Treasury yields were up considerably late last week on better economic numbers and earnings reports; however, they are still within the range set in early August.
Equity markets were mixed, with the S&P 500 gaining 34 basis points (0.34 percent) and the technology-heavy Nasdaq losing 1.26 percent. Read more now.
We had another strong month to end the quarter, with markets generally finishing in the black, though well off their mid-September highs. The dominant factor in all markets was central bank action, with the prize for the most effective action going to the European Central Bank (ECB) for its announcement that it would support the sovereign bond markets for nations in trouble.
The Federal Reserve (the Fed) got the silver medal this quarter for its announcement of unlimited quantitative easing, and the Bank of Japan and the Chinese central bank also joined the party. Read more now.
Equity markets posted strong gains last week, making up what they had lost in the previous week. Somewhat surprisingly, several sectors that are typically considered more defensive in nature led the market higher. The health care sector was the best performer, followed by the telecom sector. Technology was the only sector in negative territory. Read more now.
At 1.64 percent, the 10-year Treasury yield was 4 basis points away from its three-week low early Monday on weaker-than-expected economic numbers out of Europe and Asia. This represents a quick reversal from the recent sell-off in Treasuries that came after the Federal Reserve’s announcement of more quantitative easing. Read more now.
The yield on the 10-year Treasury was back down to 1.74 percent last week, after selling off the week before. The yield had reached 1.95 percent in the wake of the Federal Reserve’s announcement of a new round of quantitative easing.
Equity markets took a bit of a breather, giving back some of their recent gains. The S&P 500 declined 0.36 percent.
Read more now (PDF, new window).
Dan Bookham
Dan Bookham of Rockland has joined Allen Insurance and Financial’s business insurance department. He will be based in the company’s Camden office.
Born, raised, and educated in Britain, Bookham moved to Maine in 1995 and has spent his working career in the Pine Tree State, living or working in Bar Harbor, Camden, Belfast and Rockland.
Bookham was the executive director of the Penobscot Bay Regional Chamber of Commerce January 2009 to September 2012.
“For all of his business career, Dan has developed a special expertise in a wide range of areas. His skill in building collaborative relationships and in small business development will allow him to serve our business clients well,” said Michael Pierce, Allen Insurance and Financial president. “We are glad to welcome him aboard.”
In the community, Bookham serves on the boards of the Penobscot Bay YMCA, Lifeflight of Maine Foundation, United Mid-Coast Charities, the Camden Windjammer Festival and the Penobscot Bay Rendezvous Power & Sail Regatta; as a Coastal Mountains Land Trust Fundraising Pathfinder; as a member of the Advisory Board of the Camden Conference; on the Dragon Cement Community Advisory Panel, Pen Bay Health Care Strategic Planning Committee, as a Pen Bay Healthcare Ambassador, and as a member of America’s Edge (a nationwide organization advocating for investment in early childhood development and education).
Bookham holds a BA (Honours) degree in Modern History from the University of North London, England and is a graduate of the inaugural MidcoastLeadershipAcademy class (2006-7) at the University of Maine Hutchinson Center.
In 2010 Bookham was the first serving executive director of the chamber to be recognized with its community service award, and in 2011 was named the Maine Chamber Executive of the Year and was awarded the University of Maine Midcoast Leadership Academy Jim Patterson Award for outstanding performance by an MLA graduate.
At Allen Insurance and Financial, Bookham is participating in the company’s education program as he studies for the Maine licensing exam for property & casualty insurance.
When not working, Bookham, his wife Jessie, daughter Scout and their two rambunctious dogs enjoy making the most of all the cultural and outdoor activities the Midcoast has to offer.
