Weekly Market Update (4/24/09)‏

HEADLINE NEWS WEEK ENDING 4/24/09

Overview
The US Treasury is expected to release the criteria for its upcoming bank stress tests later today. more...

US MARKETS
Treasury/Economics
US Treasuries continue to trade without any specific direction and within a very narrow yield range. more...

Large-Cap Equities
The stock market ended modestly lower in this relatively quiet week. The equity market fell for the first time in almost 2 months on concerns that government stress tests on 19 banks will signal additional losses. more...

Corporate Bonds
Investment grade primary activity continued to stay on the sidelines as earnings remained the center of attention. more...

Mortgage-Backed Securities
The government-agency mortgage market traded in a very tight range over the past week. more...

Municipal Bonds
Build American Bonds (BABs) dominated headlines and market action this week. The State of California sold nearly $7 billion in taxable municipal bonds, $5 billion of which were issued under the BABs program. more...

High-Yield
Along with the equity market, high yield started the week lower but came charging back. more...

INTERNATIONAL MARKETS
Western European Equities
Stocks in Western Europe gained ground over the past week. The stocks with the best performance were oil and gas (+5.4%) and retail (+5.4%). more...

Eastern European Equities
The CECE index of equities traded in Central Europe (Czech Republic, Hungary, and Poland) gained +1.4% this week, while the Russian stock index RTS lost -0.4%. more...

Global Bonds and Currencies
Major non-US sovereign bond markets spent a relatively quiet week, in most cases ending slightly firmer but well within their recent ranges. more...

Emerging-Market Bonds
Emerging market dollar-pay debt spreads were largely unchanged this week, following the tone in US equities. more...

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