Friday, September 4, 2009

Weekly Market Update (9/4/09)‏

HEADLINE NEWS WEEK ENDING 9/4/09

Overview
Employment Report - Nonfarm payrolls declined by 216,000 in August compared to an upwardly revised 276,000 drop in July. The unemployment rate rose to 9.7%, the highest level since June 1983 when the rate was 10.1%. more...

US MARKETS
Treasury/Economics
The US Treasury yield curve steepened in the last week of the summer, with 2-year yields dropping 10 basis points (bps) whereas Treasury yields of longer dated maturities remained relatively unchanged. more...

Large-Cap Equities
The stock markets pared back some of its recent gains this week on mixed economic data and a renewed concern of additional bank losses. more...

Corporate Bonds
Investment grade primary activity continued its subdued manner as we made our way through the last several weeks of summer. more...

Mortgage-Backed Securities
Mortgage bonds rallied to their highest level since late spring as the Federal Reserve signaled no end to accommodative monetary policy. more...

Municipal Bonds
The muni market continues its trend of tightening credit spreads and lower long-term yields as investors try to find yield in any avenue available. more...

High-Yield
The high yield market remained relatively quiet this first week of September, with many market participants on the sidelines. more...

INTERNATIONAL MARKETS
Eastern European Equities
The CECE index of equities traded in Central Europe (Czech Republic, Hungary, and Poland) lost -4.6% this week, while the Russian stock index RTS went down -2.4%. more...

Global Bonds and Currencies
Major non-US sovereign bond markets had a notably quiet week with most closing unchanged. more...

Emerging-Market Bonds
Emerging market dollar-pay debt spreads were marginally tighter this week as trading activity remained light ahead of the holiday weekend in the US. more...

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Have a great weekend!



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