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Weekly Market Review – 8/13/2018

Light summer trading volume, sparse economic calendar, and the tail end of second quarter earnings season didn’t provide much for markets to latch onto last week.  It looked like the S&P was set to take out the January record high until volatility picked up late Thursday/Friday on fears of contagion stemming from currency issues in…
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Weekly Market Review – 8/6/2018

Last week brought us several high profile central bank meetings (Fed, BoJ, BoE, PBoC), a heavy calendar of economic results, some Brexit anxiety, and more encouraging earnings announcements.  Risk markets continued to discount risks surrounding trade conflicts and maintained positive momentum. Underlying economic data and corporate fundamentals are supportive and inflation pressures remain well within…
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Weekly Market Review – 7/30/2018

Strong corporate earnings, a robust GDP report, and marginal de-escalation of U.S.-global trade negotiations translated to positive returns for global equity markets and higher U.S. interest rates last week.  Also supportive to financial markets were de-escalating narratives surrounding U.S./European trade and NAFTA enabling materials, energy, and industrial stocks to breathe a sigh of relief.  …
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Weekly Market Review – 7/23/2018

Second quarter earnings season and trade conflict drove headlines last week while equity markets made modest gains and bond markets were pressured by rising rates.  Energy markets absorbed a spike in U.S. inventories and are working to reconcile how production declines from Iran/Venezuela will offset increases from Russia/Saudi Arabia. Technicals continue to look fairly robust…
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Weekly Market Review – 7/16/2018

U.S. and non-U.S. equity indices brushed off more talk of tariffs and ensuing escalation, posting respectable gains last week.  The S&P 500 traded back at levels not seen since the early February correction, now only 3% below its record high and underlying market breadth, as measured by cumulative A/D line looks robust.  The USD rallied…
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Weekly Market Review – 7/9/2018

Equity markets looked past last week’s trade conflict and tariff headlines to post respectable gains in a holiday shortened week.  Growth stocks and small caps once again led the way driven by higher earnings growth and the notion that small caps are more insulated from tariff implications.  The yield curve flattened with a tariff related…
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Weekly Market Review – 7/2/2018

Last week wrapped up the month of June and the second quarter with a heavy calendar of economic reports (details below), slight de-escalation of U.S.-Sino trade rhetoric, and surging oil prices.  Bond prices and the U.S. dollar strengthened on subtle de-risking and inflation-oriented sentiments. Broad equity markets softened with the exception of energy and yield…
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Weekly Market Review – 6/25/2018

The volley of tit for tat trade tensions weighed on equity markets last week pulling U.S. equities and interest rates down.  European equity markets were weighed down by hawkish tones from the BoE and the appointment of two prominent Euroskeptics to key roles in the Italian parliament.  The economic calendar was heavy with housing market…
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Weekly Market Review – 6/18/2018

Macro and geopolitical anecdotes dominated market psyche last week netting marginal gains in U.S. equity markets, a strong USD, and a flattening yield curve.  It was the highest profile week of the year for monetary policy with pivotal developments from the Fed, ECB, PBOC, and BoJ. Trade disputes and Fed policy drove commodity prices sharply…
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Weekly Market Review – 6/11/2018

U.S. equity markets registered gains across the board, pushing the NASDAQ and R2000 to new record highs. The only red ink in the U.S. equity market last week were utilities stocks which were pressured by a move higher in interest rates. Global trade ‘negotiating’ owned the headlines as POTUS continued his confrontational tone with most…
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