HEADLINE NEWS WEEK ENDING 5/8/09
Overview
Nonfarm payroll employment declined by 539,000 in April and the unemployment rate rose from 8.5 to 8.9%, the Bureau of Labor Statistics (BLS) reported today. more...
US MARKETS
Treasury/Economics
Treasury yields continued to head higher this week, with demand abating as investors favor other sectors. more...
Large-Cap Equities
The stock market soared higher as the results of the government stress tests and better-than-expected economic data signaled signs of an economic stabilization. more...
Corporate Bonds
Investment grade primary activity finally shifted gears and issuers released a wide range of paper this week. more...
Mortgage-Backed Securities
The wild ride in US Treasuries failed to spoil the party in agency mortgages. Although Treasury yields soared on another round of economic 'green shoots', mortgage prices oscillated in a narrow range. more...
Municipal Bonds
Although AAA-rated general obligation (GO) municipal bond yields were unchanged over the last week, the sell-off in Treasuries pushed municipal/Treasury yield ratios back toward historical norms (i.e., well under 100%). more...
High-Yield
The high yield market continued its momentum of April in May 2009. The trend remained similar, with the lower-quality, CCC-rated end of the market rallying strong. . more...
INTERNATIONAL MARKETS
Western European Equities
Stocks in Western Europe gained ground over the past week. The stocks with the best performance were basic resources (+14.0%) and banks (+11.6%). more...
Eastern European Equities
The CECE index of equities traded in Central Europe (Czech Republic, Hungary, and Poland) gained +11.4% this week, while the Russian stock index RTS went up +12.7%. more...
Global Bonds and Currencies
With equity markets continuing to rise and confidence mounting that the worst of the global recession has passed, major non-US government bond markets weakened in line with their US counterparts in the past week. . more...
Emerging-Market Bonds
Emerging market dollar-pay debt spreads tightened by 58 bps this week. more...
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