WEEKLY CAPITAL MARKET HIGHLIGHTS:
- Global equity markets were mostly down on the week through Thursday. Of major markets, only the UK and China were in positive territory, and just barely. All other major markets posted returns in the low single digits.
- The Treasury yield curve steepened through Thursday. Yields on notes and bonds with maturities longer than three years in particular rose more than short-dated debt.
- Commodities were broadly up on the week. Energy and agriculture rose through Thursday. Precious and industrial metals, as well as livestock, fell.
- The US dollar rose this week against a basket of major trade partners’ currencies. The US Dollar Index now stands at a level of strength not seen since the end of last year.
- In other economic news: The Fed’s balance sheet fell $20.6 billion to $4.338 trillion. The Atlanta Fed’s Business Inflation Expectations (BIE) Survey for the leading 12 months read 2.0% in May, down from April’s 2.3% reading. The Energy Information Agency’s (EIA) Petroleum Status Report indicated falling inventories for crude, gasoline, and distillates for the week ended May 11.
Click here to download the complete weekly report: Endowment Wealth Management Weekly Review May 18, 2018