A Status Check on the Markets/Economy as 2017 Gets Underway
Weekly Commentary, February 10th, 2017
- Equity markets were positive domestically with U.S. stocks (S&P 500) up 0.95% and flat for international stocks (EAFE).
- Fixed income markets were positive with investment grade bonds (AGG) up 0.42% and high yield bonds (JNK) up 0.05%.
- Brexit – Britain’s lower house of Parliament passed legislation Wednesday that allows Prime Minister May to begin the process of exiting the EU.
- Japan – the Bank of Japan announced Friday an increase to their bond purchases, which pushed the Nikkei Index up 2.5%.
- Oil – after some volatility in recent weeks that spilled into other markets, oil is trending back up to $54 a barrel. This in part due to greater adherence than was expected by OPEC members regarding agreed production cuts.
- Tax Cuts – equity markets rallied to end the week in part due to comments by President Trump regarding impending tax-reform.
- Commentary: This week we look at the current conditions of the stock market and economy to gain some insight into how the year is shaping up.
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