Weekly Market Update (6/12/09)‏

HEADLINE NEWS WEEK ENDING 6/12/09

Overview
Retail sales rose for the third time in five months in May and consumer sentiment continued to improve during the month adding to recent evidence that the US economy is poised to recover later this year. more...http://payden.com/library/weeklyMarketUpdateE.aspx

US MARKETS
Treasury/Economics
In a week dominated by new Treasury supply in 3-year, 10-year and 30-year maturities, Treasuries continued their sharp move higher in yields with 10-year yields trading briefly at 4%. more...
http://payden.com/library/weeklyMarketUpdateE.aspx
Large-Cap Equities
The stock market ended the week relatively flat as trading volumes reflected light summer activity. more...http://payden.com/library/weeklyMarketUpdateE.aspx

Corporate Bonds
Investment grade primary activity slowed down noticeably from its hectic pace even though investors continue to reach for yield. more...http://payden.com/library/weeklyMarketUpdateE.aspx

Mortgage-Backed Securities
Mortgages underperformed Treasuries and other spread asset classes as yields traveled with volatility. more...http://payden.com/library/weeklyMarketUpdateE.aspx

Municipal Bonds
Municipal bond yields lurched higher this week across the yield curve as the market appeared to catch-up with the recent move in Treasuries. more...http://payden.com/library/weeklyMarketUpdateE.aspx

High-Yield
The high yield run continues. For the twelfth week out of the last 13, the broad high yield market posted another positive weekly total return. more...http://payden.com/library/weeklyMarketUpdateE.aspx

INTERNATIONAL MARKETS
Western European Equities
Stocks in Western Europe performed well during the week, finishing up +1%. more...http://payden.com/library/weeklyMarketUpdateE.aspx

Eastern European Equities
The CECE index of equities traded in Central Europe (Czech Republic, Hungary, and Poland) gained +4.7% this week, while the Russian stock index RTS went down -2 %. more...http://payden.com/library/weeklyMarketUpdateE.aspx

Global Bonds and Currencies
In most major sovereign bond markets, the early part of the past week was characterized by an extension of the previous week’s sell-off as supply and fears of near-term rate hikes continued to drive yields higher. more...http://payden.com/library/weeklyMarketUpdateE.aspx

Emerging-Market Bonds
Emerging market dollar-pay debt spreads were roughly unchanged this week. After several weeks of positive price action in risk markets, the tone turned more neutral as investors now focus more on economic data going forward. more...http://payden.com/library/weeklyMarketUpdateE.aspx

For more information, please contact 800 5-PAYDEN or visit payden.com.

If you have difficulties viewing this e-mail and would prefer the Weekly Market Update in plain text format, please e-mail us at paydenrygel@payden-rygel.com. To unsubscribe from this email, please email us at unsubscribe@payden-rygel.com.




Have a great weekend!



All rights reserved. Legal terms. Payden & Rygel respects your privacy. Privacy policy.

The investment strategy and investment management information presented on this email and related Web site, payden.com, should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative Web site designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this Web site, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our Web site your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.