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Oct 10 2016

Fixed Income Markets – the real action last week

Market Recap:

Stocks ended a volatile week on a slight down-note Friday, as major indexes lost a fraction of a percent. While most investors are focused on the S&P 500 or DJIA, the real action last week was in fixed income markets. The benchmark 10 Year Treasury yield has climbed by nearly ¼ point since late September, indicating that market participants are seeing an increasing chance of a December or January rate hike. International bourses mirrored U.S. volatility last week, declining slightly across the board. The U.S. dollar remained fairly steady against other major currencies, with the exception of the Mexican Peso which rose to a six month high. The Peso is largely seen as an election indicator, rising as a Mr. Trump’s poll numbers fall and rising when his chance of winning the election improve.

 

This Week’s Market Moving Events:

Monday: Happy Columbus Day

Tuesday: Small Business Optimism Index. Alcoa (S: AA) reports

Wednesday: Job Openings. CSX Corp (S: CSX) reports

Thursday: Import Price Index. Delta Air (S: DAL) and Wynn Resorts (S: WYNN) report

Friday: Retail Sales, PPI, Consumer Sentiment, Business Inventories. CitiGroup (S: C), JP Morgan (S: JPM) and Wells Fargo (S: WFC) report