Overview
While the unemployment rate climbed to a 26 year high of 10.2% in October, initial claims for unemployment aid, which are generally considered a gauge of the pace of layoffs, fell last week to a seasonally adjusted 502,000. more...
US MARKETS
Treasury/Economics
Treasury yields oscillated in a very narrow range this week, with relatively low yields and volatility an ideal scenario for the Federal Reserve as it seeks to navigate the economy. more...
Large-Cap Equities
The stock market rallied for the second straight week on continued corporate mergers and acquisitions activity and the G-20 agreeing to maintain their stimulus efforts, supporting prospects of an economic recovery. more...
Corporate Bonds
Investment grade primary activity got off to a running start this week with over twenty issuers coming to the market. more...
Mortgage-Backed Securities
Complacency is a mortgage investor’s best friend. With Treasuries stuck in a range for another week, mortgages outperformed Treasuries as spreads inched closer to their all-time tights. more...
Municipal Bonds
Yields on municipal bonds are lower this week inside of 20 years of maturity, but higher in longer maturities. more...
High-Yield
The high yield market is facing a flood of new deals, with over 15 deals totaling some $6.5 billion set to price this week and early next. more...
INTERNATIONAL MARKETS
Eastern European Equities
The CECE index of equities traded in Central Europe (Czech Republic, Hungary, and Poland) gained +6.7% this week, while the Russian stock index RTS went up +6.1%. more...
Global Bonds and Currencies
Major non-US sovereign bond markets were generally slightly firmer overall in the past week despite a surge in risk appetite which pushed equity prices to their highest levels this year. more...
Emerging-Market Bonds
Emerging market dollar-pay debt spreads were tighter this week. Encouraging economic data kept risk appetite strong as equity markets made new highs for the year and credit spreads tightened. more...
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.
