Week of 9/11/17 - 9/15/17: Last week was a smooth week for the equity markets. Each of the 3 main equity indices (DJIA, S&P 500, Nasdaq) ended at or near all time highs, shaking off any concerns over Hurricane Irma and North Korea. Energy led the way and posted its 4th consecutive week of gains, growing 2.92% this week and over 6% throughout the month-long rally. Financials bounced back after a tough week of selloffs, gaining 2.12%. Internationally, EAFE grew .56%, but was outpaced globally by ACWI, which grew 1.2%.
Treasury yields have seen some selling pressure throughout the week. The 10 Year Treasury yield started around 2.10 and climbed 10 basis points to 2.20. There may be some additional movement prior to the Fed meeting, which wraps up Wednesday, but investors are not expecting any changes to interest rates. Lastly, these expectations along with political uncertainty has helped drive the dollar down to a yearly low.