A look back
- Major global equity markets posted a second consecutive week of gains. The S&P 500 rose by 1.0%, while international developed and emerging markets advanced 2.4% and 1.6%, respectively.
- U.S. Treasury yields ended the week little changed as inflation data releases offered mixed signals. The 2-year yield held steady at 3.75% and the 10-year edged up to 4.32%.
- U.S. retail sales rose 0.5% in July, in line with forecasts but below June’s revised 0.9% increase. Separately, consumer sentiment declined for the first time in four months as short and longer-term inflation expectations ticked higher.
A look ahead
- The Federal Reserve’s (Fed) July meeting minutes, set for release midweek, may offer investors deeper insight into policymakers’ views on current economic conditions.
- Later in the week investor focus will largely shift to the Fed’s Jackson Hole Economic Policy Symposium. This year’s theme is “Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy."
- Economic releases: Housing Starts, July Federal Reserve Minutes, S&P Manufacturing & Services PMIs, Leading Economic Indicators.
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