Friday, June 19, 2009

Weekly Market Update (06/19/09)‏


The Bureau of Labor Statistics announced a 1.3% decline in the Consumer Price Index year-over-year, the sharpest 12-month decline in prices since April 1950. more..

Interest rates ended the week largely unchanged despite intra-week volatility as investors position for record supply and a Federal Open Market Committee meeting on June 24th. more...

Large-Cap Equities
The stock market fell for the first time in four weeks on falling commodity prices and lowered ratings on banks. more...
Corporate Bonds
Investment grade primary activity continued its torpid pace as geopolitical issues took center stage. more...

Mortgage-Backed Securities
Despite intra-day volatility, agency mortgage performed favorably as interest rates oscillated in a tight range. more...

Municipal Bonds
The municipal bond market established a more solid footing this week as yields fell by about 8 bps in the 10-year maturity range of the AAA-rated general obligation (GO) curve. more...

Along with the equity market, High Yield took a breather this week. Going into Friday, the broad high yield market was 1.3% lower and 25 bps wider relative to Treasuries on the week. more...

Western European Equities
European stocks went down this week. The sectors with the worst performance were basic resources (-10.7%) and autos & parts (-10.4%). more...
Eastern European Equities
The CECE index of equities traded in Central Europe (Czech Republic, Hungary, and Poland) lost -4.1% this week, while the Russian stock index RTS went down -10.3%. more...

Global Bonds and Currencies
Major non-US government bond markets saw modest gains across the curve over the past week, extending progress made at the end of the previous week. more...

Emerging-Market Bonds
Emerging market dollar-pay debt spreads were wider this week as investors continued to move to the sidelines after the strong rally over the past two months. more...

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Have a great weekend!

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