Weekly Market Update

The Federal Reserve (Fed) announced last week that it will continue purchasing $45 billion in longer-term Treasuries on a monthly basis and discontinue selling short-term securities. In addition, the Fed will continue purchasing $40 billion in mortgage-backed securities per month, considerably expanding its balance sheet.

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Equity markets were fairly strong last week, as the S&P 500 Index gained 0.20 percent. Weakness in technology-related names,
however, worked to the disadvantage of the Nasdaq Composite, which lost ground on the week. Read more now.

Equity markets posted modest gains last week. The S&P 500 Index gained 56 basis points (0.56 percent), but the higher-beta Nasdaq Composite and Russell 2000 Index were the best performers, increasing well over 1 percent. The Dow Jones Industrial Average lagged. Read more now.

Equity markets started the holiday season in a festive mood, as the S&P 500 surged 3.65 percent last week, in part due to perceived progress in Washington, DC regarding the fiscal cliff. Read more now.

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.