A look back
- Major stock markets globally continued higher last week, with the S&P 500 reaching new all-time highs. Emerging market stocks were a standout, rising nearly 4.0%, and overtaking international developed markets on a year-to-date basis.
- The 10-year U.S. treasury yield fell for a fourth consecutive week on expectations of Federal Reserve (Fed) easing. The 10-year yield closed at 4.06% after dipping below 4.0% on Thursday.
- Markets received highly anticipated readings on inflation for the month of August, which showed a reacceleration in consumer prices, but a deceleration in wholesale producer prices.
A look ahead
- In the week ahead, the Fed will hold its September policy meeting. After holding rates steady for five straight meetings, it is expected to resume easing in support of its maximum employment mandate.
- The Fed will also release updated quarterly projections for the path of interest rates, economic growth, unemployment, and inflation. In June, it projected the Fed funds rate falling to 3.6% by year-end 2026, which is well above what bond markets are currently pricing in.
- Economic releases: Retail Sales, Import Price Index, Housing Starts, Leading Indicators.
Our full report is reserved for clients only. Let’s work together.
A caring advisor can help you uncover opportunities and take on challenges—and provide greater confidence, clarity, simplicity, and direction.