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Market Commentary: Fed Cuts Interest Rates to Near Zero

Market Commentary

Market Commentary: Fed Cuts Interest Rates to Near Zero

Stocks and bonds continued to be buffeted about by waves of data and policy actions designed to combat the coronavirus and the secondary effects of the virus on individuals, businesses, and markets.

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Weekly Market Commentary – March 9, 2020

Market Commentary

Weekly Market Commentary – March 9, 2020

Special Update: Global stocks dropped sharply on Monday based on a precipitous fall in oil prices. Global stocks dropped sharply on Monday morning. The catalyst for the decline was the inability of Russia and Saudi Arabia to reach a deal on controlling the supply of oil. Oil prices had already declined on concerns the coronavirus will sharply curtail demand for energy.

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Weekly Market Commentary – March 2, 2020

Market Commentary

Weekly Market Commentary – March 2, 2020

Last week, investors moved from a “reality check” to a “gut check” as the selloff from the previous week accelerated sharply. The coronavirus continued to expand rapidly in South Korea, Italy, and Iran. Even though China’s number of new cases continues to drop, the virus keeps producing new cases in additional countries, including the U.S. The data underscores the steps being taken to limit the spread, but the virus has been difficult to contain.

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Weekly Market Commentary – February 24, 2020

Market Commentary

Weekly Market Commentary – February 24, 2020

The coronavirus continues to challenge health care officials and curtail economic activity. The virus seems to be spreading more slowly within China, and there are reports workers are slowly returning to their jobs or working remotely. Cases in South Korea and Italy shot higher, while Iran reported a high percentage of fatalities relative to a limited number of cases.

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Weekly Market Commentary – February 18, 2020

Market Commentary

Weekly Market Commentary – February 18, 2020

The coronavirus, dubbed COVID-19, continues to threaten lives, communities, and the global economy. The number of cases keeps climbing, although the Chinese revised the definition of who has been diagnosed with the virus. There were signs the spread of the virus is slowing, but the revised definition makes it more difficult to analyze, and health and economic risks remain.

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Weekly Market Commentary – February 10, 2020

Market Commentary

Weekly Market Commentary – February 10, 2020

The coronavirus showed some signs of slowing the pace of its expansion even as the number of fatalities surpassed the SARS crisis. Efforts to contain the virus are shrinking consumption in China and affecting diverse industries, such as auto manufacturing, oil, and luxury goods.

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Weekly Market Commentary – February 3, 2020

Market Commentary

Weekly Market Commentary – February 3, 2020

The coronavirus continued to spread in China and around the world. Concerns about the virus and measures to prevent its spread will likely reduce economic activity in the first quarter. Interest rates moved lower, and the 10-year Treasury bond yield moved below short-term rates, which indicates concern about the strength of economic growth.

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Weekly Market Commentary – January 27, 2020

Market Commentary

Weekly Market Commentary – January 27, 2020

In a week in which impeachment news produced the top headlines, markets reacted more to news about a virus in central China. A coronavirus apparently coming from an open-air food market in Wuhan raised concerns the Chinese would reduce spending just as the Chinese New Year vacation is starting.

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Weekly Market Commentary – January 21, 2020

Market Commentary

Weekly Market Commentary – January 21, 2020

Optimism from continued progress on trade pushed the S&P 500 to new highs last week. The U.S. and China signed a “phase one” deal that included an agreement by the U.S. to reduce tariffs in exchange for promises of increased purchases of U.S. goods by China and adjusted rules to allow U.S. corporations to better compete in China.

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Weekly Market Commentary – January 13, 2020

Market Commentary

Weekly Market Commentary – January 13, 2020

The U.S. employment report missed expectations, but it reinforced our view that the U.S. labor market remains strong. As shown in the accompanying chart, 145,000 new jobs were created, missing expectations of 160,000. Wages have risen 2.9% over the last year, falling below 3% for the first time since late 2018.

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