Overview
Federal Reserve policymakers have downgraded their outlook for the US economy in 2009 according to their latest projections for real GDP growth, inflation and unemployment. more...
US MARKETS
Treasury/Economics
Treasuries remained in demand throughout this short yet active President’s Day week. The market is still trading very volatile, with double digit yield movements everyday this week. more...
Large-Cap Equities The stock market tumbled this week due to further weakness in the financial sector and fears of a deepening recession. more...
Corporate BondsThere were a handful of issuers that tapped the investment grade market this week as concerns regarding the stimulus package and bank rescue plan kept issuers at bay. more...
Mortgage-Backed Securities Mortgages performed poorly versus Treasuries as the latest US Government policy plan, the Home Affordability and Stability Plan (HASP), intended to stem the foreclosure crisis, may lead to a surge in refinancing. more...
Municipal Bonds The municipal market stalled this week. Two-year AAA-rated general obligation (GO) bond yields rose 3 basis points (bps) through Thursday, to 1.17%. more...
High-Yield The high yield market remains resilient, notwithstanding the onslaught of difficult macro news. more...
INTERNATIONAL MARKETSWestern European EquitiesStocks in Western Europe lost ground over the past week. The stocks with the worst performance were insurance (-19.0%) and banks (-16.1%). more...
Eastern European Equities The CECE index of equities traded in Central Europe (Czech Republic, Hungary, and Poland) lost -14.1% this week, while the Russian stock index RTS went down by -17.1%. more...
Global Bonds and CurrenciesSovereign government bond markets had a mixed week. The long ends of both the Bund and Gilt markets took their main lead from the US Treasury market, closing the week firmer. more...
Emerging-Market Bonds Emerging market dollar-pay debt spreads widened this week. more...
FACTORS SHAPING THE MARKET NEXT WEEK
Next week, investors will be listening closely to Fed Chairman Ben Bernanke during his semi-annual testimony before Congress. more...
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