WEEKLY CAPITAL MARKET HIGHLIGHTS:
- Domestic equities were positive for the week, with small cap stocks leading the way. International equities were down on the week, and emerging markets struggled the most.
- Treasury yields were mostly up through end of day Thursday, with the greatest increase in yields occurring at the longer end of the curve.
- The US dollar strengthened during the week, as the Bank of England raised rates and its hawkish remarks failed to appease investors’ concerns about the economic outlook.
- Commodities were down overall, led by a drop in gold prices. Oil ended the week in positive territory.
- In other economic news, the Purchasing Managers’ Index, which indicates the overall economic health of the manufacturing sector, was down to a five-month low of 55.3. The report indicates continued economic expansion despite headwinds from supply shortages, rising prices, and deteriorating exports.
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