Saturday, November 14, 2009

WEEK ENDING 11/13/09

Overview
While the unemployment rate climbed to a 26 year high of 10.2% in October, initial claims for unemployment aid, which are generally considered a gauge of the pace of layoffs, fell last week to a seasonally adjusted 502,000. more...

US MARKETS
Treasury/Economics
Treasury yields oscillated in a very narrow range this week, with relatively low yields and volatility an ideal scenario for the Federal Reserve as it seeks to navigate the economy. more...

Large-Cap Equities
The stock market rallied for the second straight week on continued corporate mergers and acquisitions activity and the G-20 agreeing to maintain their stimulus efforts, supporting prospects of an economic recovery. more...

Corporate Bonds
Investment grade primary activity got off to a running start this week with over twenty issuers coming to the market. more...

Mortgage-Backed Securities
Complacency is a mortgage investor’s best friend. With Treasuries stuck in a range for another week, mortgages outperformed Treasuries as spreads inched closer to their all-time tights. more...

Municipal Bonds
Yields on municipal bonds are lower this week inside of 20 years of maturity, but higher in longer maturities. more...

High-Yield
The high yield market is facing a flood of new deals, with over 15 deals totaling some $6.5 billion set to price this week and early next. more...

INTERNATIONAL MARKETS
Eastern European Equities
The CECE index of equities traded in Central Europe (Czech Republic, Hungary, and Poland) gained +6.7% this week, while the Russian stock index RTS went up +6.1%. more...

Global Bonds and Currencies
Major non-US sovereign bond markets were generally slightly firmer overall in the past week despite a surge in risk appetite which pushed equity prices to their highest levels this year. more...

Emerging-Market Bonds
Emerging market dollar-pay debt spreads were tighter this week. Encouraging economic data kept risk appetite strong as equity markets made new highs for the year and credit spreads tightened. more...

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Have a great weekend!



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