- US equities rallied at the end of a week of speculation on trade talks between the US and China, up between 1%-2%. Non-US equities also rose, with most major indices up 1%-2%.
- The yield on the 10-year US Treasury Note jumped to more than 1.70% to close the week with hopes of progress in US/China trade talks. The 3-month/10-year Treasury curve was positive, a change from the inverted yield curve that historically has been a recession indicator.
- The US dollar finished weaker against a basket of currencies, reflecting both rising expectations of a Fed rate cut later this month and optimism over a limited trade deal with China to close the week.
- Gold fell about 2% on the week as of Friday’s trading.
- Oil prices soared upon the news of an alleged missile attack on an Iranian tanker. Brent crude and WTI futures rose between 1.50%-2.00%.
Click here to download the complete weekly report: EWMWeeklyReview 10.14.19
Disclosure: Past performance is not necessarily indicative of future results.