Stocks rose again last week as the S&P 500 hit another all-time high, ending up 1%. International developed and emerging markets fared even better, up 1.7% and 2.5%, respectively.
U.S. Treasury yields continued their decline last week, albeit at a much slower pace. The 2-year yield dropped by 0.05% while the 10-year yield moved down by only 0.01% for the week.
Job gains in November came in about as expected, with a strong 227K jobs added, but the revisions to the prior months were not as high as some had expected. The unemployment rate also ticked up by 0.1% last month.
A look ahead
Two important inflation readings come out, the Consumer and Producer Price Indices (CPI & PPI). Any deviations from expectations could affect how the Federal Reserve (Fed) thinks at next week’s meeting.
The European Central Bank, Bank of Canada, and Swiss National Bank will meet this week. All three central banks have cut more than the Fed already and are expected to cut again this week.
Economic releases: NFIB Small Business Optimism, CPI, PPI, Import and Export Prices.
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