Equity markets rose last week with the U.S. leading the rest of the world. The S&P 500 was up over 4.5% while international developed markets were up just 3%.
Despite worries that international buyers would stay away from a heavy U.S. Treasury issuance week, U.S. Treasury yields declined last week. The 10-year yield dropped 0.09% while the 2-year yield dropped 0.05%.
Although the final reading of U. of Michigan Consumer Sentiment figures came in better than expected, they did confirm that the U.S. consumer is still worried about inflation.
A look ahead
A national Canadian election will determine which party will control the government Monday. The campaign has been focused on the new tariffs implemented from the U.S. on Canadian goods.
First quarter U.S. GDP will come out this week. Expectations have swung quite a bit as imports and inventories have shifted dramatically ahead of the new tariffs, but the consumer will still be the main story for growth going forward.
