- Global equity markets were led by Japan and Turkey, which posted returns between 19 and 24 basis points through Thursday. India and Argentina, down more than 3.10% and 4.30%, respectively, were the worst performers.
- The Treasury yield curve shifted downward through Thursday. Yields across the curve fell precipitously in response to the Fed’s rate cut.
- Commodities were broadly down on the week. Oil, agriculture, and precious and industrial metals were down on the week.
- The US dollar strengthened against a basket of major trade partners’ currencies. The dollar index remains at highs not seen since 2017.
- In other economic news: The US trade deficit grew in January as exports fell due to ongoing trade tensions. Construction spending fell 1.30% in June in a greater drop than economists had forecast. The Conference Board’s Consumer Confidence Survey approached post-crisis heights in July, as unemployment remains low.
Click here to download the complete weekly report: EWMWeeklyReview 8.5.19
Disclosure: Past performance is not necessarily indicative of future results.