HEADLINE NEWS WEEK ENDING 9/18/09
Overview
The steeper-than-expected increase in August retail sales signals that consumer spending may be on the road to recovery. more...
US MARKETS
Treasury/Economics
Treasuries traded lower this week, with 5-year yields underperforming all other maturities on the yield curve. more...
Large-Cap Equities
The stock market continued to rally this week on stronger-than-expected retail sales data and analyst earnings upgrades. more...
Corporate Bonds
Investment grade primary activity continued its blazing pace this week as investors bought anything they could get their hands on. more...
Mortgage-Backed Securities
Mortgages modestly outperformed Treasuries in the rally. Thirty-year current coupon spreads were tighter by 4 basis points from the previous week as steady demand trumped originator supply. more...
Municipal Bonds
Yields on municipal bonds moved lower across all maturities this week. Yields on bonds maturing in 10 years dropped 6 basis points, to 2.73%. more...
High-Yield
As the equity markets continue to counter the trend of historically weak Septembers and as the recent economic data has been largely positive, the high yield market is benefitting from these positive trends and has been able to maintain its strong momentum. more...
INTERNATIONAL MARKETS
Eastern European Equities
The CECE index of equities traded in Central Europe (Czech Republic, Hungary, and Poland) gained +3.4% this week, while the Russian stock index RTS went up +4.1%. more...
Global Bonds and Currencies
Most major non-US sovereign bond markets ceded ground over the past week, broadly in line with losses in US Treasuries. more...
Emerging-Market Bonds
Emerging market bonds continued to outperform US treasuries this week as spreads tightened by 35 basis points. more...
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