HEADLINE NEWS WEEK ENDING 6/12/09
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
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...
The stock market ended the week relatively flat as trading volumes reflected light summer activity. more...http://payden.com/library/weeklyMarketUpdateE.aspx
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
Mortgages underperformed Treasuries and other spread asset classes as yields traveled with volatility. more...http://payden.com/library/weeklyMarketUpdateE.aspx
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
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
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 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
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